Short Interest in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Decreases By 36.8%

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 275,291 shares, a decrease of 36.8% from the February 26th total of 435,430 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 116,655 shares, the short-interest ratio is currently 2.4 days.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OKYO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of OKYO Pharma in a research report on Thursday, January 22nd. B. Riley Financial assumed coverage on shares of OKYO Pharma in a research note on Monday, December 8th. They issued a “buy” rating and a $5.00 price objective on the stock. Piper Sandler assumed coverage on shares of OKYO Pharma in a report on Friday, February 20th. They set an “overweight” rating and a $7.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of OKYO Pharma in a research report on Thursday, January 29th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, OKYO Pharma has an average rating of “Hold” and a consensus price target of $6.33.

Hedge Funds Weigh In On OKYO Pharma

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

OKYO Pharma Stock Performance

NASDAQ OKYO traded down $0.05 during mid-day trading on Friday, reaching $1.53. 159,336 shares of the stock were exchanged, compared to its average volume of 107,389. The business’s 50 day moving average is $1.83 and its 200-day moving average is $2.07. OKYO Pharma has a 1 year low of $1.03 and a 1 year high of $3.35.

OKYO Pharma (NASDAQ:OKYO) last issued its quarterly earnings data on Friday, January 30th. The company reported ($2.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($2.21). On average, research analysts predict that OKYO Pharma will post -0.17 earnings per share for the current year.

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.