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. Based on an average daily trading volume, of 110,624 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.1% of the company’s shares are short sold.

Institutional Investors Weigh In On OKYO Pharma

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

OKYO Pharma Trading Up 2.6%

Shares of NASDAQ OKYO traded up $0.04 during mid-day trading on Thursday, reaching $1.56. The company had a trading volume of 22,991 shares, compared to its average volume of 83,742. The business’s 50-day moving average is $1.63 and its 200-day moving average is $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 posted 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). Equities research analysts forecast that OKYO Pharma will post -0.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OKYO. Piper Sandler began coverage on shares of OKYO Pharma in a research 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 note on Thursday, January 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, OKYO Pharma currently has a consensus rating of “Hold” and a consensus price target of $6.33.

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.