OKYO Pharma (NASDAQ:OKYO) Stock Price Up 1.2% – Time to Buy?

OKYO Pharma Limited Sponsored ADR (NASDAQ:OKYO)’s share price traded up 1.2% during mid-day trading on Monday . The company traded as high as $1.71 and last traded at $1.68. 29,325 shares changed hands during trading, a decline of 88% from the average session volume of 237,140 shares. The stock had previously closed at $1.66.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of OKYO Pharma in a research note on Friday, February 20th. They set an “overweight” rating and a $7.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of OKYO Pharma in a research report on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of OKYO Pharma in a research report on Thursday, January 29th. Finally, B. Riley Financial assumed coverage on OKYO Pharma in a research note on Monday, December 8th. They set a “buy” rating and a $5.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.33.

OKYO Pharma Stock Up 1.2%

The firm’s fifty day simple moving average is $2.01 and its two-hundred day simple moving average is $2.11.

OKYO Pharma (NASDAQ:OKYO) last announced its quarterly earnings results on Friday, January 30th. The company reported ($2.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($2.21). Equities research analysts predict that OKYO Pharma Limited Sponsored ADR will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OKYO Pharma

Several large investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new position in shares of OKYO Pharma during the 3rd quarter worth $31,000. Renaissance Technologies LLC boosted its stake in OKYO Pharma by 235.0% during the fourth quarter. Renaissance Technologies LLC now owns 138,000 shares of the company’s stock worth $286,000 after buying an additional 96,800 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of OKYO Pharma during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

OKYO Pharma Company Profile

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.