OKYO Pharma (NASDAQ:OKYO) Trading 3.1% Higher - Time to Buy?

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)'s share price traded up 3.1% during mid-day trading on Monday . The stock traded as high as $2.46 and last traded at $2.35. 152,538 shares traded hands during trading, a decline of 3% from the average session volume of 156,773 shares. The stock had previously closed at $2.28.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of OKYO Pharma to a "hold" rating in a research report on Saturday, August 9th. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of OKYO Pharma in a research report on Monday, May 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, OKYO Pharma has a consensus rating of "Buy" and an average target price of $7.00.

OKYO Pharma Stock Up 3.1%

The stock's fifty day moving average price is $2.70 and its two-hundred day moving average price is $1.93.

Institutional Investors Weigh In On OKYO Pharma

A number of hedge funds have recently made changes to their positions in OKYO. FNY Investment Advisers LLC bought a new stake in shares of OKYO Pharma in the 1st quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of OKYO Pharma in the 2nd quarter worth approximately $28,000. Finally, Dauntless Investment Group LLC bought a new stake in OKYO Pharma during the 1st quarter valued at $2,526,000. 2.97% of the stock is currently owned by 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.

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