Short Interest in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Declines By 38.4%

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) saw a significant decrease in short interest in 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. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 69,382 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKYO. Weiss Ratings reissued a “sell (d-)” rating on shares of OKYO Pharma in a research report on Friday, July 17th. HC Wainwright reduced their target price on shares of OKYO Pharma from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Three 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 data from MarketBeat.com, OKYO Pharma currently has a consensus rating of “Hold” and a consensus target price of $5.67.

Institutional Investors Weigh In On OKYO Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in OKYO Pharma in the 4th quarter worth approximately $36,000. Renaissance Technologies LLC increased its holdings 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 valued at $286,000 after purchasing an additional 96,800 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of OKYO Pharma in the third quarter worth about $31,000. Institutional investors own 2.97% of the company’s stock.

OKYO Pharma Stock Performance

Shares of NASDAQ OKYO opened at $1.67 on Monday. OKYO Pharma has a 12-month low of $1.34 and a 12-month high of $3.20. The firm’s 50-day moving average price is $1.56 and its 200-day moving average price is $1.61.

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.