OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Down 79.9% in August

Key Points

• OKYO Pharma Limited experienced a substantial drop in short interest, with shares sold short declining 79.9% from July to August, totaling just 15,500 shares.
• The stock has a one-year low of $0.90 and a high of $3.35, currently trading at $2.32.
• Wall Street analysts have given OKYO Pharma an average rating of "Buy" with a price target of $7.00.

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totaling 15,500 shares, adropof79.9% from the July 31st total of 77,300 shares. Based on an average trading volume of 210,100 shares, the days-to-cover ratio is presently 0.1 days. Approximately0.1% of the company's shares are sold short. Approximately0.1% of the company's shares are sold short. Based on an average trading volume of 210,100 shares, the days-to-cover ratio is presently 0.1 days.

OKYO Pharma Price Performance

Shares of NASDAQ OKYO traded down $0.02 during midday trading on Monday, reaching $2.24. The company's stock had a trading volume of 5,493 shares, compared to its average volume of 166,691. OKYO Pharma has a fifty-two week low of $0.90 and a fifty-two week high of $3.35. The stock has a 50 day simple moving average of $2.69 and a 200-day simple moving average of $1.96.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of OKYO Pharma to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $7.00.

Institutional Trading of OKYO Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in OKYO. FNY Investment Advisers LLC acquired a new stake in shares of OKYO Pharma in the first quarter valued at approximately $25,000. Dauntless Investment Group LLC acquired a new stake in shares of OKYO Pharma in the first quarter valued at approximately $2,526,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of OKYO Pharma in the second quarter valued at approximately $28,000. 2.97% of the stock is currently owned by institutional investors and hedge funds.

About OKYO Pharma

OKYO Pharma Limited, a clinical-stage biopharmaceutical company, engages in developing therapeutics for patients suffering from inflammatory eye diseases and ocular pain in the United Kingdom. Its lead preclinical product candidate is OK-101, which is in Phase II clinical trials for the treatment of dry eye disease.