OKYO Pharma (NASDAQ:OKYO) Shares Up 1% - Time to Buy?

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report)'s share price shot up 1% during trading on Wednesday . The stock traded as high as $3.10 and last traded at $2.92. 181,705 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 149,960 shares. The stock had previously closed at $2.89.

Analyst Upgrades and Downgrades

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

OKYO Pharma Stock Performance

The company has a fifty day moving average of $2.11 and a two-hundred day moving average of $1.52.

Institutional Trading of OKYO Pharma

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in OKYO Pharma during the 1st quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC acquired a new position in OKYO Pharma in the 2nd quarter valued at $28,000. Finally, Dauntless Investment Group LLC acquired a new position in OKYO Pharma in the 1st quarter valued at $2,526,000. 2.97% of the stock is owned by institutional investors and hedge funds.

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.