OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Sees Significant Decline in Short Interest

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 162,711 shares, a drop of 38.3% from the April 30th total of 263,628 shares. Based on an average daily volume of 51,301 shares, the short-interest ratio is presently 3.2 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Trading of OKYO Pharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted 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. XTX Topco Ltd purchased a new stake in shares of OKYO Pharma in the 4th quarter valued at approximately $36,000. Finally, Citadel Advisors LLC acquired a new stake in shares of OKYO Pharma during the 3rd quarter worth approximately $31,000. 2.97% of the stock is owned by institutional investors and hedge funds.

OKYO Pharma Trading Up 0.9%

Shares of OKYO Pharma stock traded up $0.02 on Thursday, hitting $1.68. 20,952 shares of the company were exchanged, compared to its average volume of 182,901. OKYO Pharma has a 1-year low of $1.44 and a 1-year high of $3.35. The company has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.86.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OKYO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a research note on Tuesday, April 21st. Piper Sandler started coverage on shares of OKYO Pharma in a report on Friday, February 20th. They issued an “overweight” rating and a $7.00 price target for the company. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.