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

Key Points

• Short interest fell 25.0% in March to 206,345 shares (about 0.9% of shares) with a days-to-cover of 2.2.
• Institutional activity: Renaissance Technologies raised its stake 235% to 138,000 shares, while Citadel Advisors and XTX Topco opened small positions; institutional ownership is about 2.97%.
• Analysts & fundamentals: consensus rating is "Hold" with an average price target of $6.33; the stock traded at $1.65 after reporting a quarterly EPS miss of -$2.28 (vs. est. -$0.07), and its lead drug OK-101 is in Phase 2 for diabetic kidney disease.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in OKYO Pharma in the third quarter valued at approximately $31,000. XTX Topco Ltd acquired a new position in OKYO Pharma in the 4th quarter worth about $36,000. Finally, Renaissance Technologies LLC raised its holdings 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 purchasing an additional 96,800 shares during the period. 2.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on OKYO shares. Piper Sandler started coverage on OKYO Pharma in a research report on Friday, February 20th. They set an "overweight" rating and a $7.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of OKYO Pharma in a research report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of OKYO Pharma in a research report on Thursday, January 22nd. Three 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's stock. According to MarketBeat.com, OKYO Pharma has a consensus rating of "Hold" and an average price target of $6.33.

OKYO Pharma Trading Up 4.4%

NASDAQ:OKYO traded up $0.07 during trading hours on Wednesday, reaching $1.65. The company had a trading volume of 80,811 shares, compared to its average volume of 247,569. OKYO Pharma has a 1-year low of $1.10 and a 1-year high of $3.35. The business's 50 day moving average price is $1.70 and its 200-day moving average price is $2.02.

OKYO Pharma (NASDAQ:OKYO - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The company reported ($2.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($2.21). As a group, analysts forecast that OKYO Pharma will post -0.17 EPS for the current 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.

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