Short Interest in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Declines By 38.4%

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 83,450 shares, a decline of 38.4% from the July 30th total of 135,370 shares. Based on an average daily trading volume, of 69,382 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.3% of the shares of the company are short sold.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OKYO. Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a research report on Friday, July 17th. HC Wainwright reduced their target price on shares of OKYO Pharma from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, July 13th. Three equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.67.

OKYO Pharma Price Performance

Shares of OKYO Pharma stock opened at $1.67 on Monday. The company’s fifty day simple moving average is $1.56 and its two-hundred day simple moving average is $1.61. OKYO Pharma has a 12-month low of $1.34 and a 12-month high of $3.20.

Hedge Funds Weigh In On OKYO Pharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in OKYO Pharma in the third quarter worth about $31,000. Renaissance Technologies LLC boosted its position in 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 in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of OKYO Pharma during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 2.97% of the company’s stock.

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.