OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Stock Short Interest Rises 121.3%

by · The Markets Daily

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO – Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 76,652 shares, a growth of 121.3% from the September 30th total of 34,643 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 42,929 shares, the short-interest ratio is currently 1.8 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in OKYO Pharma stock. Opaleye Management Inc. purchased a new stake in shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 375,204 shares of the company’s stock, valued at approximately $563,000. Opaleye Management Inc. owned 0.71% of OKYO Pharma as of its most recent SEC filing. Institutional investors own 2.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating on shares of OKYO Pharma in a research report on Wednesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OKYO Pharma in a research note on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, OKYO Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.67.

Get Our Latest Report on OKYO

OKYO Pharma Stock Down 2.0%

Shares of NASDAQ:OKYO traded down $0.03 on Friday, reaching $1.47. 107,513 shares of the company traded hands, compared to its average volume of 47,948. The business’s 50-day simple moving average is $1.44 and its 200 day simple moving average is $1.63. OKYO Pharma has a 52 week low of $1.26 and a 52 week high of $3.20.

About OKYO Pharma

(Get Free Report)

OKYO Pharma Limited (NASDAQ:OKYO) is a clinical-stage biopharmaceutical company focused on developing precision medicines for inflammatory, ocular and pain-related diseases. The company’s research is centered on G protein-coupled receptors (GPCRs), a broad class of biological targets involved in regulating immune responses, pain signaling and other disease processes.

OKYO’s lead development program, OK-101, is a novel GPCR-targeting therapeutic being investigated for conditions including dry eye disease and neuropathic pain.

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