Short Interest in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Decreases By 26.4%

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 50,958 shares, a decrease of 26.4% from the December 15th total of 69,191 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 51,695 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 51,695 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the shares of the company are sold short.

OKYO Pharma Price Performance

Shares of NASDAQ:OKYO traded down $0.18 during midday trading on Monday, reaching $2.21. 183,107 shares of the company’s stock were exchanged, compared to its average volume of 166,753. The company’s 50 day simple moving average is $2.16 and its two-hundred day simple moving average is $2.36. OKYO Pharma has a 12 month low of $0.90 and a 12 month high of $3.35.

Institutional Investors Weigh In On OKYO Pharma

An institutional investor recently bought a new position in OKYO Pharma stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,000 shares of the company’s stock, valued at approximately $28,000. Institutional investors own 2.97% of the company’s stock.

Analyst Upgrades and Downgrades

OKYO has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of OKYO Pharma in a research note on Tuesday, September 23rd. Finally, B. Riley initiated coverage on OKYO Pharma in a research note on Monday, December 8th. They set a “buy” rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.

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.