Phoenix Biotech Acquisition Corp. (NASDAQ:PBAX – Get Rating) was the recipient of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 9,100 shares, a drop of 18.0% from the December 15th total of 11,100 shares. Based on an average daily volume of 28,500 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company's shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PBAX. Hsbc Holdings PLC lifted its position in Phoenix Biotech Acquisition by 178.7% during the 3rd quarter. Hsbc Holdings PLC now owns 729,499 shares of the company's stock valued at $7,361,000 after acquiring an additional 467,776 shares during the period. Westchester Capital Management LLC purchased a new position in Phoenix Biotech Acquisition during the 2nd quarter valued at about $4,626,000. Woodline Partners LP lifted its position in Phoenix Biotech Acquisition by 1,100.0% during the 2nd quarter. Woodline Partners LP now owns 300,000 shares of the company's stock valued at $3,006,000 after acquiring an additional 275,000 shares during the period. Wolverine Asset Management LLC lifted its position in Phoenix Biotech Acquisition by 161.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 404,576 shares of the company's stock valued at $4,053,000 after acquiring an additional 250,010 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Phoenix Biotech Acquisition during the 2nd quarter valued at about $2,404,000. 65.93% of the stock is owned by hedge funds and other institutional investors.

Phoenix Biotech Acquisition Price Performance

Shares of NASDAQ PBAX opened at $10.36 on Friday. Phoenix Biotech Acquisition has a 1 year low of $9.90 and a 1 year high of $11.76. The firm has a 50-day moving average of $10.28 and a 200 day moving average of $10.16.

About Phoenix Biotech Acquisition

Phoenix Biotech Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It engages in identifying and acquiring a business that focuses on the healthcare or healthcare related industries in the United States and Europe.

Further Reading

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