OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) Short Interest Up 223.4% in July

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 135,370 shares, an increase of 223.4% from the July 15th total of 41,862 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 144,700 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

Several analysts recently commented on the stock. HC Wainwright reduced their price target on shares of OKYO Pharma from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of OKYO Pharma in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, OKYO Pharma presently has an average rating of “Hold” and an average price target of $5.67.

OKYO Pharma Stock Performance

Shares of NASDAQ:OKYO opened at $1.52 on Friday. OKYO Pharma has a 52 week low of $1.34 and a 52 week high of $3.20. The company has a 50-day moving average price of $1.56 and a 200 day moving average price of $1.65.

Institutional Trading of OKYO Pharma

Several hedge funds have recently modified their holdings of OKYO. Renaissance Technologies LLC boosted its stake 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. XTX Topco Ltd purchased a new position in OKYO Pharma in the fourth quarter worth $36,000. Finally, Citadel Advisors LLC purchased a new position in OKYO Pharma in the third quarter worth $31,000. 2.97% of the stock is owned by institutional investors and hedge funds.

About OKYO Pharma

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.