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

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of OKYO Pharma in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of OKYO Pharma in a report on Wednesday, October 8th. 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 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

OKYO Pharma Price Performance

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

A hedge fund recently bought a new stake in OKYO Pharma stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,000 shares of the company’s stock, valued at approximately $28,000. Institutional investors and hedge funds 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.