Phoenix Biotech Acquisition Corp. (NASDAQ:PBAX – Get Rating) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,700 shares, a decline of 71.6% from the September 30th total of 9,500 shares. Based on an average daily trading volume, of 49,400 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company's shares are sold short.
Phoenix Biotech Acquisition Stock Performance
PBAX stock remained flat at $10.17 during mid-day trading on Wednesday. 14 shares of the company's stock were exchanged, compared to its average volume of 41,075. Phoenix Biotech Acquisition has a 52 week low of $9.71 and a 52 week high of $11.76. The stock has a 50-day moving average of $10.10 and a two-hundred day moving average of $10.05.
Get Phoenix Biotech Acquisition alerts:Institutional Trading of Phoenix Biotech Acquisition
Several large investors have recently added to or reduced their stakes in the company. MMCAP International Inc. SPC increased its stake in Phoenix Biotech Acquisition by 200.0% in the 1st quarter. MMCAP International Inc. SPC now owns 750,000 shares of the company's stock valued at $7,504,000 after buying an additional 500,000 shares during the period. Saba Capital Management L.P. increased its stake in shares of Phoenix Biotech Acquisition by 14.7% in the first quarter. Saba Capital Management L.P. now owns 733,826 shares of the company's stock worth $7,342,000 after acquiring an additional 94,068 shares during the last quarter. Westchester Capital Management LLC acquired a new position in shares of Phoenix Biotech Acquisition in the second quarter worth $4,626,000. Wolverine Asset Management LLC raised its holdings in shares of Phoenix Biotech Acquisition by 161.7% during the second quarter. Wolverine Asset Management LLC now owns 404,576 shares of the company's stock worth $4,053,000 after acquiring an additional 250,010 shares in the last quarter. Finally, Context Capital Management LLC acquired a new stake in Phoenix Biotech Acquisition during the first quarter valued at $4,002,000. 62.98% of the stock is owned by institutional investors and hedge funds.
About Phoenix Biotech Acquisition
(Get Rating)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.
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