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

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 135,370 shares, an increase of 223.4% from the July 15th total of 41,862 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 144,700 shares, the days-to-cover ratio is currently 0.9 days.

OKYO Pharma Price Performance

Shares of NASDAQ:OKYO traded up $0.01 on Friday, reaching $1.52. 65,020 shares of the company traded hands, compared to its average volume of 109,190. OKYO Pharma has a fifty-two week low of $1.34 and a fifty-two week high of $3.20. The company’s 50 day moving average is $1.56 and its 200-day moving average is $1.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OKYO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a report on Friday, July 17th. HC Wainwright cut their price target on shares of OKYO Pharma from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, July 13th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.67.

Institutional Investors Weigh In On OKYO Pharma

A number of institutional investors and hedge funds have recently modified their holdings of OKYO. Citadel Advisors LLC purchased a new position in OKYO Pharma in the 3rd quarter worth about $31,000. XTX Topco Ltd acquired a new stake in OKYO Pharma during the 4th quarter worth about $36,000. Finally, Renaissance Technologies LLC lifted its stake 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 buying an additional 96,800 shares in the last quarter. 2.97% of the stock is owned by institutional investors and hedge funds.

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.