OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Update

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKYO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a research note on Tuesday, April 21st. Piper Sandler assumed coverage on OKYO Pharma in a research note on Friday, February 20th. They issued an “overweight” rating and a $7.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.33.

OKYO Pharma Trading Up 1.2%

NASDAQ:OKYO opened at $1.68 on Friday. OKYO Pharma has a 12 month low of $1.44 and a 12 month high of $3.35. The business’s 50-day moving average is $1.62 and its 200 day moving average is $1.85.

Institutional Investors Weigh In On OKYO Pharma

A number of hedge funds have recently made changes to their positions in OKYO. Renaissance Technologies LLC raised its position in OKYO Pharma by 235.0% during the fourth 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 during the period. XTX Topco Ltd purchased a new stake in OKYO Pharma during the fourth quarter valued at approximately $36,000. Finally, Citadel Advisors LLC purchased a new stake in OKYO Pharma during the third quarter valued at approximately $31,000. 2.97% of the stock is currently owned by hedge funds and other institutional investors.

About OKYO Pharma

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.