OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Up 31.9% in April

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 272,194 shares, an increase of 31.9% from the March 31st total of 206,345 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 110,624 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On OKYO Pharma

Large investors have recently modified their holdings of the business. Citadel Advisors LLC bought a new position in shares of OKYO Pharma in the 3rd quarter valued at $31,000. Renaissance Technologies LLC lifted its position in shares of 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 during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of OKYO Pharma during the 4th quarter worth $36,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

OKYO Pharma Price Performance

OKYO stock opened at $1.58 on Wednesday. The business has a 50-day simple moving average of $1.64 and a 200 day simple moving average of $1.99. OKYO Pharma has a 52 week low of $1.31 and a 52 week high of $3.35.

OKYO Pharma (NASDAQ:OKYO) last announced its quarterly earnings data on Friday, January 30th. The company reported ($2.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($2.21). As a group, research analysts forecast that OKYO Pharma will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OKYO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a research report on Tuesday, April 21st. Piper Sandler assumed coverage on shares of OKYO Pharma in a report on Friday, February 20th. They issued an “overweight” rating and a $7.00 price objective 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 equities research 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 MarketBeat.com, OKYO Pharma currently has an average rating of “Hold” and a consensus target price of $6.33.

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.