OKYO Pharma (NASDAQ:OKYO) Stock Price Up 1.2% – Still a Buy?

Shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) shot up 1.2% on Monday . The stock traded as high as $1.71 and last traded at $1.68. 29,325 shares changed hands during trading, a decline of 88% from the average session volume of 237,140 shares. The stock had previously closed at $1.66.

Analyst Ratings Changes

Several research analysts have recently commented on the company. B. Riley Financial assumed coverage on OKYO Pharma in a research report on Monday, December 8th. They set a “buy” rating and a $5.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of OKYO Pharma in a research report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of OKYO Pharma in a report on Thursday, January 29th. Finally, Piper Sandler started coverage on shares of OKYO Pharma in a research note on Friday, February 20th. They issued an “overweight” rating and a $7.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, OKYO Pharma presently has a consensus rating of “Hold” and an average price target of $6.33.

OKYO Pharma Stock Performance

The firm has a 50-day moving average price of $1.98 and a two-hundred day moving average price of $2.10.

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

Hedge Funds Weigh In On OKYO Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of OKYO. Citadel Advisors LLC acquired a new position in shares of OKYO Pharma during the 3rd quarter worth $31,000. Renaissance Technologies LLC boosted its stake in OKYO Pharma by 235.0% in the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $286,000 after buying an additional 96,800 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in OKYO Pharma during the fourth quarter worth approximately $36,000. 2.97% of the stock is currently owned by hedge funds and other 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.