Short Interest in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Increases By 81.5%

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 289,406 shares, a growth of 81.5% from the January 15th total of 159,454 shares. Based on an average daily trading volume, of 373,038 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.3% of the shares of the company are sold short. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 373,038 shares, the days-to-cover ratio is currently 0.8 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on OKYO. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of OKYO Pharma in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a research report on Thursday, January 22nd. Finally, B. Riley Financial started coverage on OKYO Pharma in a research report on Monday, December 8th. They set a “buy” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.00.

Institutional Investors Weigh In On OKYO Pharma

A hedge fund recently raised its stake in OKYO Pharma stock. Renaissance Technologies LLC raised its holdings in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) by 235.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,000 shares of the company’s stock after buying an additional 96,800 shares during the quarter. Renaissance Technologies LLC owned 0.37% of OKYO Pharma worth $286,000 as of its most recent SEC filing. 2.97% of the stock is owned by institutional investors.

OKYO Pharma Stock Performance

NASDAQ OKYO opened at $1.75 on Friday. The company’s fifty day moving average is $2.14 and its two-hundred day moving average is $2.26. OKYO Pharma has a 52-week low of $1.03 and a 52-week high of $3.35.

OKYO Pharma (NASDAQ:OKYO) last released its earnings results on Friday, January 30th. The company reported ($2.28) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($2.21). Research analysts predict that OKYO Pharma will post -0.17 EPS for the current year.

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.