OKYO Pharma (NASDAQ:OKYO) Trading Down 1.9% – What’s Next?

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) shares fell 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 changed hands during mid-day trading, an increase of 7% from the average daily volume of 55,770 shares. The stock had previously closed at $1.58.

Analyst Ratings Changes

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

OKYO Pharma Trading Up 0.6%

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

Institutional Trading of OKYO Pharma

Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC purchased a new position in shares of OKYO Pharma in the third quarter worth $31,000. XTX Topco Ltd purchased a new stake in shares of OKYO Pharma during the fourth quarter valued at $36,000. Finally, Renaissance Technologies LLC increased its holdings in 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 buying an additional 96,800 shares in the last quarter. Institutional investors own 2.97% of the company’s stock.

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.