OKYO Pharma (NASDAQ:OKYO) Stock Price Up 2.9% - Here's Why

Key Points

• OKYO Pharma shares rose 2.9% to $1.44, though trading volume was about 70% below the stock’s average daily volume.
• Analyst sentiment is mixed but leans positive: three analysts rate the stock Buy and one rates it Sell, resulting in a consensus “Moderate Buy” rating and a $5.67 target price.
• Opaleye Management acquired 375,204 shares worth approximately $563,000, while institutional investors collectively own 2.97% of the company. OKYO is developing GPCR-targeting treatments, including lead candidate OK-101 for dry eye disease and neuropathic pain.

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report)'s stock price rose 2.9% during trading on Monday. The company traded as high as $1.44 and last traded at $1.44. Approximately 16,654 shares traded hands during trading, a decline of 70% from the average daily volume of 54,811 shares. The stock had previously closed at $1.40.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. HC Wainwright reissued a "buy" rating on shares of OKYO Pharma in a research report on Wednesday, October 7th. Weiss Ratings restated a "sell (d-)" rating on shares of OKYO Pharma in a research report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.67.

OKYO Pharma Price Performance

The stock has a 50-day moving average price of $1.44 and a two-hundred day moving average price of $1.65.

Institutional Trading of OKYO Pharma

A hedge fund recently bought a new stake in OKYO Pharma stock. Opaleye Management Inc. acquired a new position in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 375,204 shares of the company's stock, valued at approximately $563,000. Opaleye Management Inc. owned approximately 0.71% of OKYO Pharma at the end of the most recent quarter. Institutional investors and hedge funds own 2.97% of the company's stock.

About OKYO Pharma

OKYO Pharma Limited NASDAQ: OKYO is a clinical-stage biopharmaceutical company focused on developing precision medicines for inflammatory, ocular and pain-related diseases. The company's research is centered on G protein-coupled receptors (GPCRs), a broad class of biological targets involved in regulating immune responses, pain signaling and other disease processes.

OKYO's lead development program, OK-101, is a novel GPCR-targeting therapeutic being investigated for conditions including dry eye disease and neuropathic pain.

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