OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Sees Large Increase in Short Interest

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 76,652 shares, an increase of 121.3% from the September 30th total of 34,643 shares. Based on an average daily trading volume, of 42,929 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Trading of OKYO Pharma

A hedge fund recently bought a new position in OKYO Pharma stock. Opaleye Management Inc. purchased a new position in shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 375,204 shares of the company’s stock, valued at approximately $563,000. Opaleye Management Inc. owned 0.71% of OKYO Pharma as of its most recent SEC filing. 2.97% of the stock is owned by institutional investors.

OKYO Pharma Trading Down 2.0%

Shares of OKYO stock traded down $0.03 during mid-day trading on Friday, reaching $1.47. The company’s stock had a trading volume of 107,513 shares, compared to its average volume of 47,948. OKYO Pharma has a 1-year low of $1.26 and a 1-year high of $3.20. The firm’s 50-day moving average is $1.44 and its two-hundred day moving average is $1.63.

Analysts Set New Price Targets

OKYO has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating on shares of OKYO Pharma in a report on Wednesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of OKYO Pharma in a report on Thursday, October 15th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.67.

About OKYO Pharma

OKYO Pharma Limited (NASDAQ:OKYO) is a clinical-stage biopharmaceutical company focused on developing precision medicines for inflammatory, ocular and pain-related diseases. The company’s research is centered on G protein-coupled receptors (GPCRs), a broad class of biological targets involved in regulating immune responses, pain signaling and other disease processes.

OKYO’s lead development program, OK-101, is a novel GPCR-targeting therapeutic being investigated for conditions including dry eye disease and neuropathic pain.