OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Sees Significant Decline in Short Interest

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 162,711 shares, a drop of 38.3% from the April 30th total of 263,628 shares. Based on an average daily volume of 51,301 shares, the short-interest ratio is presently 3.2 days. Approximately 0.7% of the company’s shares are sold short.

Institutional Trading of OKYO Pharma

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of OKYO Pharma in the 4th quarter valued at approximately $36,000. Renaissance Technologies LLC increased its holdings in shares of OKYO Pharma by 235.0% during the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $286,000 after purchasing an additional 96,800 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of OKYO Pharma during the 3rd quarter valued at approximately $31,000. 2.97% of the stock is owned by hedge funds and other institutional investors.

OKYO Pharma Stock Down 0.6%

OKYO Pharma stock opened at $1.70 on Wednesday. The firm’s fifty day moving average is $1.61 and its 200 day moving average is $1.87. OKYO Pharma has a 52-week low of $1.44 and a 52-week high of $3.35.

Analyst Ratings Changes

OKYO has been the topic of a number of recent research reports. Piper Sandler started coverage on shares of OKYO Pharma in a report on Friday, February 20th. They issued an “overweight” rating and a $7.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of OKYO Pharma in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, OKYO Pharma currently has an average rating of “Hold” and a consensus price target of $6.33.

OKYO Pharma Company Profile

Okyo Pharma Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for inflammatory and fibrotic diseases. The company’s pipeline is built on proprietary Fc-fusion technology designed to modulate immune responses associated with conditions such as diabetic nephropathy and chronic graft-versus-host disease. Okyo Pharma seeks to address significant unmet medical needs by targeting key cytokine pathways involved in tissue inflammation and fibrosis.

Okyo Pharma’s lead product candidate, OK-101, is an Fc-fusion protein in Phase 2 development for the treatment of diabetic kidney disease.