OKYO Pharma (NASDAQ:OKYO) Trading Down 1.9% – Should You Sell?

Shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) dropped 1.9% during mid-day trading on Wednesday . The stock traded as low as $1.55 and last traded at $1.55. Approximately 59,552 shares traded hands during trading, an increase of 7% from the average daily volume of 55,770 shares. The stock had previously closed at $1.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, OKYO Pharma has an average rating of “Hold” and a consensus price target of $6.33.

OKYO Pharma Stock Performance

The company’s 50-day moving average price is $1.61 and its two-hundred day moving average price is $1.81.

Institutional Trading of OKYO Pharma

Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in OKYO Pharma in the third quarter worth approximately $31,000. XTX Topco Ltd bought a new position in shares of OKYO Pharma in the fourth quarter valued at $36,000. Finally, Renaissance Technologies LLC increased its holdings in shares of OKYO Pharma by 235.0% in the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock valued at $286,000 after buying an additional 96,800 shares in the last quarter. 2.97% of the stock is currently owned by institutional investors.

OKYO Pharma Company Profile

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.