OKYO Pharma (NASDAQ:OKYO) Shares Up 9.7% – Still a Buy?

Shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) traded up 9.7% during mid-day trading on Friday. The company traded as high as $1.47 and last traded at $1.47. Approximately 82,518 shares were traded during trading, a decline of 1% from the average daily volume of 83,267 shares. The stock had previously closed at $1.34.

Analyst Upgrades and Downgrades

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

OKYO Pharma Price Performance

The firm has a 50-day moving average price of $1.49 and a two-hundred day moving average price of $1.56.

Institutional Investors Weigh In On OKYO Pharma

An institutional investor recently bought a new position in OKYO Pharma stock. Opaleye Management Inc. purchased a new position in shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 375,204 shares of the company’s stock, valued at approximately $563,000. Opaleye Management Inc. owned about 0.71% of OKYO Pharma at the end of the most recent quarter. 2.97% of the stock is currently owned by institutional investors and hedge funds.

About OKYO Pharma

OKYO Pharma Limited is a clinical-stage biotechnology company focused on discovering and developing precision medicines that target G protein-coupled receptors (GPCRs). The company’s research is directed toward treatments for inflammatory, autoimmune and pain-related conditions, including diseases affecting the eye.

OKYO’s lead development program is OK-101, an investigational GPCR-targeted therapy being studied for ocular conditions such as dry eye disease. The company has also explored potential applications of its platform in neuropathic pain and other diseases involving inflammation and immune-system signaling.