OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Down 25.0% in March

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 206,345 shares, a decrease of 25.0% from the March 15th total of 275,291 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 95,251 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKYO. Piper Sandler began coverage on OKYO Pharma in a report on Friday, February 20th. They issued an “overweight” rating and a $7.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of OKYO Pharma in a report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a report on Thursday, January 22nd. Three 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.33.

Hedge Funds Weigh In On OKYO Pharma

A number of hedge funds have recently made changes to their positions in OKYO. Citadel Advisors LLC acquired a new position in shares of OKYO Pharma during the third quarter valued at approximately $31,000. Renaissance Technologies LLC raised its holdings in shares of OKYO Pharma by 235.0% during the fourth 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 during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of OKYO Pharma during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

OKYO Pharma Price Performance

Shares of OKYO Pharma stock traded up $0.07 during mid-day trading on Wednesday, reaching $1.65. 80,811 shares of the stock traded hands, compared to its average volume of 247,569. The business has a 50-day moving average of $1.70 and a 200 day moving average of $2.02. OKYO Pharma has a fifty-two week low of $1.10 and a fifty-two week high of $3.35.

OKYO Pharma (NASDAQ:OKYO) last announced its earnings results on Friday, January 30th. The company reported ($2.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($2.21). As a group, analysts predict that OKYO Pharma will post -0.17 EPS for the current fiscal year.

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.