OKYO Pharma (NASDAQ:OKYO) Trading Up 3.1% - Here's Why

Key Points

• The share price of OKYO Pharma rose by 3.1% to $2.35, following a trading session with a volume of 152,538 shares, reflecting a slight decline from its average trading volume.
• Analyst ratings are mostly positive, with a consensus rating of "Buy" and a target price of $7.00, following upgrades and reiterations from various equity research analysts.
• Institutional investors have shown increasing interest in OKYO Pharma, with several firms acquiring new stakes in the company throughout 2023.

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report) shares were up 3.1% on Monday . The stock traded as high as $2.46 and last traded at $2.35. Approximately 152,538 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 156,773 shares. The stock had previously closed at $2.28.

Analysts Set New Price Targets

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

OKYO Pharma Price Performance

The business's fifty day moving average price is $2.69 and its two-hundred day moving average price is $1.95.

Hedge Funds Weigh In On OKYO Pharma

Several institutional investors and hedge funds have recently bought and sold shares of OKYO. FNY Investment Advisers LLC acquired a new position in shares of OKYO Pharma during the first quarter worth $25,000. Wealth Enhancement Advisory Services LLC purchased a new position in OKYO Pharma during the 2nd quarter worth $28,000. Finally, Dauntless Investment Group LLC purchased a new position in OKYO Pharma during the 1st quarter worth $2,526,000. 2.97% of the stock is owned by hedge funds and other institutional investors.

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.