OKYO Pharma (NASDAQ:OKYO) Trading Down 15.5% – What’s Next?

by · The Cerbat Gem

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO – Get Free Report) dropped 15.5% during mid-day trading on Thursday . The stock traded as low as $2.31 and last traded at $2.39. Approximately 320,302 shares changed hands during mid-day trading, an increase of 111% from the average daily volume of 151,711 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of OKYO Pharma in a research report on Tuesday, September 23rd. Finally, B. Riley began coverage on OKYO Pharma in a research note on Monday, December 8th. They issued a “buy” rating and a $5.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, OKYO Pharma presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Check Out Our Latest Research Report on OKYO

OKYO Pharma Stock Down 15.5%

The stock’s fifty day moving average is $2.16 and its two-hundred day moving average is $2.37.

Institutional Investors Weigh In On OKYO Pharma

An institutional investor recently bought a new position in OKYO Pharma stock. Wealth Enhancement Advisory Services LLC purchased a new position in OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $28,000. Institutional investors own 2.97% of the company’s stock.

OKYO Pharma Company Profile

(Get Free Report)

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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