OKYO Pharma (NASDAQ:OKYO) Stock Price Down 15.5% – Should You Sell?

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) shares fell 15.5% during mid-day trading on Thursday . The company traded as low as $2.31 and last traded at $2.39. 320,302 shares changed hands during mid-day trading, an increase of 111% from the average session volume of 151,711 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

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

OKYO Pharma Stock Down 7.5%

The firm’s 50 day simple moving average is $2.16 and its two-hundred day simple moving average is $2.37.

Institutional Investors Weigh In On OKYO Pharma

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

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.