Phoenix Biotech Acquisition Corp. (NASDAQ:PBAX – Get Rating) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 5,800 shares, an increase of 65.7% from the March 31st total of 3,500 shares. Based on an average daily volume of 49,100 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.
Institutional investors have recently modified their holdings of the stock. Deltec Asset Management LLC bought a new position in shares of Phoenix Biotech Acquisition during the 4th quarter worth about $99,000. Dupont Capital Management Corp bought a new position in shares of Phoenix Biotech Acquisition during the 4th quarter valued at approximately $248,000. Wolverine Asset Management LLC bought a new position in shares of Phoenix Biotech Acquisition during the 4th quarter valued at approximately $1,593,000. MMCAP International Inc. SPC bought a new position in Phoenix Biotech Acquisition in the 4th quarter worth approximately $2,478,000. Finally, Radcliffe Capital Management L.P. bought a new position in Phoenix Biotech Acquisition in the 4th quarter worth approximately $2,973,000. 27.76% of the stock is currently owned by institutional investors.
PBAX remained flat at $$10.02 during trading on Friday. 6,411 shares of the company’s stock traded hands, compared to its average volume of 144,835. The firm has a fifty day moving average of $9.98. Phoenix Biotech Acquisition has a 1-year low of $9.71 and a 1-year high of $11.76.
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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