OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Down 38.4% in August

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) saw a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 83,450 shares, a decrease of 38.4% from the July 30th total of 135,370 shares. Based on an average daily volume of 69,382 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in OKYO Pharma by 235.0% during the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $286,000 after buying an additional 96,800 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of OKYO Pharma during the fourth quarter valued at approximately $36,000. Finally, Citadel Advisors LLC purchased a new position in shares of OKYO Pharma in the third quarter valued at approximately $31,000. 2.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

OKYO Pharma Price Performance

NASDAQ OKYO traded down $0.01 on Tuesday, hitting $1.51. The company had a trading volume of 22,266 shares, compared to its average volume of 153,956. The company’s fifty day moving average price is $1.56 and its 200-day moving average price is $1.61. OKYO Pharma has a 12-month low of $1.34 and a 12-month high of $3.20.

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.