OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Sees Large Decline in Short Interest

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 32,380 shares, a decrease of 60.9% from the June 15th total of 82,735 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 64,916 shares, the short-interest ratio is presently 0.5 days.

OKYO Pharma Stock Performance

Shares of OKYO Pharma stock opened at $1.69 on Monday. The company’s 50-day moving average price is $1.61 and its two-hundred day moving average price is $1.78. OKYO Pharma has a 52 week low of $1.42 and a 52 week high of $3.35.

Hedge Funds Weigh In On OKYO Pharma

Several hedge funds have recently made changes to their positions in OKYO. Renaissance Technologies LLC raised its holdings in shares of OKYO Pharma by 235.0% in the 4th quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $286,000 after purchasing an additional 96,800 shares in the last quarter. XTX Topco Ltd bought a new stake in OKYO Pharma during the fourth quarter worth approximately $36,000. Finally, Citadel Advisors LLC bought a new stake in OKYO Pharma during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

Analysts Set New Price Targets

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

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.