OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Sees Large Decrease in Short Interest

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

Wall Street Analyst Weigh In

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

OKYO Pharma Price Performance

OKYO traded down $0.18 during trading on Friday, reaching $2.21. 183,107 shares of the company were exchanged, compared to its average volume of 166,753. OKYO Pharma has a 52 week low of $0.90 and a 52 week high of $3.35. The firm has a 50 day moving average of $2.16 and a 200 day moving average of $2.36.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in OKYO Pharma stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the company’s stock, valued at approximately $28,000. 2.97% of the stock is owned by institutional investors.

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.