Short Interest in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Expands By 223.4%

Key Points

• Short interest in OKYO Pharma surged 223.4% to 135,370 shares as of July 31, representing about 0.6% of shares outstanding and 0.9 days to cover.
• OKYO shares traded at $1.51, near the lower end of their 12-month range of $1.34 to $3.20, while trading volume remained below its average.
• Analyst sentiment is mixed: the consensus rating is “Hold” with an average price target of $5.67, despite HC Wainwright maintaining a Buy rating after cutting its target to $5.00.

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 135,370 shares, an increase of 223.4% from the July 15th total of 41,862 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 144,700 shares, the days-to-cover ratio is presently 0.9 days.

OKYO Pharma Stock Performance

NASDAQ:OKYO traded up $0.01 during trading hours on Thursday, hitting $1.51. The company's stock had a trading volume of 8,695 shares, compared to its average volume of 161,647. The stock has a fifty day simple moving average of $1.56 and a 200-day simple moving average of $1.66. OKYO Pharma has a twelve month low of $1.34 and a twelve month high of $3.20.

Wall Street Analysts Forecast Growth

OKYO has been the topic of a number of analyst reports. HC Wainwright reduced their price objective on shares of OKYO Pharma from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of OKYO Pharma in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $5.67.

Institutional Investors Weigh In On OKYO Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in OKYO Pharma in the 4th quarter valued at approximately $36,000. Renaissance Technologies LLC increased its holdings in shares of OKYO Pharma by 235.0% during the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company's stock worth $286,000 after buying an additional 96,800 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of OKYO Pharma in the 3rd quarter valued at $31,000. 2.97% of the stock is owned by institutional investors.

About OKYO Pharma

Okyo Pharma Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for inflammatory and fibrotic diseases. The company's pipeline is built on proprietary Fc-fusion technology designed to modulate immune responses associated with conditions such as diabetic nephropathy and chronic graft-versus-host disease. Okyo Pharma seeks to address significant unmet medical needs by targeting key cytokine pathways involved in tissue inflammation and fibrosis.

Okyo Pharma's lead product candidate, OK-101, is an Fc-fusion protein in Phase 2 development for the treatment of diabetic kidney disease.

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