OKYO Pharma (NASDAQ:OKYO) Shares Down 13.7% - Time to Sell?

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report) shares were down 13.7% during trading on Tuesday . The stock traded as low as $2.13 and last traded at $2.21. Approximately 201,376 shares traded hands during trading, an increase of 41% from the average daily volume of 143,002 shares. The stock had previously closed at $2.56.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of OKYO Pharma in a research report on Monday, May 5th.

OKYO Pharma Stock Up 5.3%

The company has a 50 day moving average price of $1.71 and a 200 day moving average price of $1.35.

Hedge Funds Weigh In On OKYO Pharma

An institutional investor recently bought a new position in OKYO Pharma stock. Dauntless Investment Group LLC bought a new position in shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,988,780 shares of the company's stock, valued at approximately $2,526,000. OKYO Pharma makes up approximately 3.0% of Dauntless Investment Group LLC's portfolio, making the stock its 2nd largest position. Dauntless Investment Group LLC owned about 5.88% of OKYO Pharma at the end of the most recent quarter. Institutional investors own 2.97% of the company's stock.

OKYO Pharma Company Profile

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.