OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Up 31.9% in April

Key Points

• Short interest jumped 31.9% to 272,194 shares as of April 15, implying a 2.5 days-to-cover based on average volume and roughly 1.1% of shares sold short.
• OKYO trades around $1.58, below its 50- and 200-day moving averages and within a 52-week range of $1.31–$3.35, after reporting a large quarterly loss of ($2.28) EPS versus a consensus of ($0.07); analysts' consensus is a "Hold" with an average price target of $6.33.
• Institutional interest is limited (institutions own 2.97%), though Renaissance Technologies boosted its stake by 235% to 138,000 shares and Citadel and XTX opened small positions.

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 272,194 shares, a growth of 31.9% from the March 31st total of 206,345 shares. Based on an average trading volume of 110,624 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.1% of the shares of the company are sold short.

OKYO Pharma Price Performance

Shares of OKYO opened at $1.58 on Wednesday. The company's 50-day moving average is $1.64 and its 200-day moving average is $1.99. OKYO Pharma has a fifty-two week low of $1.31 and a fifty-two week high of $3.35.

OKYO Pharma (NASDAQ:OKYO - Get Free Report) last announced its 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). As a group, equities research analysts anticipate that OKYO Pharma will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OKYO shares. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of OKYO Pharma in a report on Thursday, January 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of OKYO Pharma in a report on Tuesday, April 21st. Finally, Piper Sandler began coverage on OKYO Pharma in a research note on Friday, February 20th. They issued an "overweight" rating and a $7.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $6.33.

Institutional Investors Weigh In On OKYO Pharma

Institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in shares of OKYO Pharma during the third quarter worth approximately $31,000. XTX Topco Ltd bought a new stake in OKYO Pharma in the 4th quarter valued at $36,000. Finally, Renaissance Technologies LLC grew 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 valued at $286,000 after buying an additional 96,800 shares in the last quarter. 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.

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