Phoenix Biotech Acquisition Corp. (NASDAQ:PBAXW – Get Rating) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,300 shares, a growth of 230.0% from the October 31st total of 1,000 shares. Based on an average daily volume of 9,600 shares, the short-interest ratio is currently 0.3 days.

Phoenix Biotech Acquisition Stock Performance

Shares of Phoenix Biotech Acquisition stock remained flat at $0.05 on Tuesday. The stock had a trading volume of 40,616 shares, compared to its average volume of 22,420. Phoenix Biotech Acquisition has a fifty-two week low of $0.02 and a fifty-two week high of $0.58. The business has a 50-day moving average price of $0.06 and a 200 day moving average price of $0.08.

Hedge Funds Weigh In On Phoenix Biotech Acquisition

Several institutional investors have recently added to or reduced their stakes in PBAXW. Context Capital Management LLC acquired a new position in Phoenix Biotech Acquisition in the 1st quarter valued at about $44,000. MMCAP International Inc. SPC increased its position in Phoenix Biotech Acquisition by 200.0% during the 1st quarter. MMCAP International Inc. SPC now owns 375,000 shares of the company's stock worth $82,000 after purchasing an additional 250,000 shares during the period. Clear Street LLC acquired a new position in Phoenix Biotech Acquisition during the 2nd quarter worth approximately $33,000. Finally, Periscope Capital Inc. increased its position in Phoenix Biotech Acquisition by 210.5% during the 3rd quarter. Periscope Capital Inc. now owns 930,798 shares of the company's stock worth $86,000 after purchasing an additional 630,998 shares during the period.

Phoenix Biotech Acquisition Company Profile

Phoenix Biotech Acquisition Corp. intends to acquire assets and businesses through a merger, share exchange, share purchase, reorganization, or similar business combination. It focuses on pursuing opportunities in the life sciences sector. The company was incorporated in 2021 and is based in Oakland, California.

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