OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Update

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

Institutional Investors Weigh In On OKYO Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in OKYO Pharma in the third quarter valued at approximately $31,000. XTX Topco Ltd acquired a new stake in OKYO Pharma during the 4th quarter worth $36,000. Finally, Renaissance Technologies LLC raised 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 valued at $286,000 after acquiring an additional 96,800 shares during the last quarter. Institutional investors and hedge funds own 2.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a report on Thursday, January 22nd. Piper Sandler began coverage on shares of OKYO Pharma in a report on Friday, February 20th. They set an “overweight” rating and a $7.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of OKYO Pharma in a research report on Thursday, January 29th. Finally, B. Riley Financial started coverage on shares of OKYO Pharma in a report on Monday, December 8th. They set a “buy” rating and a $5.00 price objective for the company. Three equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.33.

OKYO Pharma Price Performance

OKYO Pharma stock opened at $1.58 on Friday. The business’s fifty day moving average is $1.85 and its two-hundred day moving average is $2.08. OKYO Pharma has a 52 week low of $1.03 and a 52 week high of $3.35.

OKYO Pharma (NASDAQ:OKYO) last announced its earnings results 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, equities analysts expect that OKYO Pharma will post -0.17 earnings per share for the current fiscal 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.