Short Interest in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Increases By 100.0%

Key Points

• Short interest in OKYO Pharma Limited's stock surged by 100% in August, increasing to 31,000 shares from 15,500 shares.
• The company's stock price decreased by $0.02 to $2.15 during Friday's trading, with a 52-week price range between $0.90 and $3.35.
• Analysts have a consensus rating of "Buy" for OKYO Pharma, with a price target set at $7.00.

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 31,000 shares, a growth of 100.0% from the August 15th total of 15,500 shares. Based on an average daily volume of 175,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 175,000 shares, the days-to-cover ratio is presently 0.2 days.

OKYO Pharma Price Performance

OKYO traded down $0.02 during trading hours on Friday, reaching $2.15. 41,195 shares of the company's stock traded hands, compared to its average volume of 108,847. The firm has a 50-day moving average price of $2.63 and a 200 day moving average price of $1.99. OKYO Pharma has a 52-week low of $0.90 and a 52-week high of $3.35.

Hedge Funds Weigh In On OKYO Pharma

A number of hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in OKYO Pharma in the first quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of OKYO Pharma in the second quarter valued at about $28,000. Finally, Dauntless Investment Group LLC purchased a new stake in OKYO Pharma in the first quarter worth about $2,526,000. 2.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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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