Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC) Sees Large Decline in Short Interest

Key Points

• Short interest in Oaktree Acquisition Corp. III Life Sciences (NASDAQ: OACC) fell sharply in June, dropping 57.9% to 12,043 shares from 28,598 shares two weeks earlier. The stock now has about 0.0% of shares sold short and a days-to-cover ratio of 0.3 days.
• Analyst sentiment remains negative, with Weiss Ratings reiterating a “sell (d)” rating. MarketBeat data shows the consensus rating for OACC is still “Sell.”
• The stock traded near its 12-month high at $10.72, with recent trading volume below average. OACC is a SPAC sponsored by Oaktree Capital Management and is seeking a business combination in the life sciences sector.

Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC - Get Free Report) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 12,043 shares, a decline of 57.9% from the June 15th total of 28,598 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 43,196 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Oaktree Acquisition Corp. III Life Sciences in a report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Oaktree Acquisition Corp. III Life Sciences Stock Performance

Shares of Oaktree Acquisition Corp. III Life Sciences stock traded up $0.03 during mid-day trading on Tuesday, hitting $10.72. The stock had a trading volume of 3,040 shares, compared to its average volume of 38,198. The firm has a 50-day moving average of $10.69 and a two-hundred day moving average of $10.66. Oaktree Acquisition Corp. III Life Sciences has a 12-month low of $10.30 and a 12-month high of $10.74.

Institutional Investors Weigh In On Oaktree Acquisition Corp. III Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OACC. Rangeley Capital LLC lifted its stake in shares of Oaktree Acquisition Corp. III Life Sciences by 52.8% in the 1st quarter. Rangeley Capital LLC now owns 61,188 shares of the company's stock valued at $647,000 after purchasing an additional 21,156 shares during the last quarter. DLD Asset Management LP increased its position in shares of Oaktree Acquisition Corp. III Life Sciences by 0.9% during the 1st quarter. DLD Asset Management LP now owns 136,735 shares of the company's stock worth $1,447,000 after purchasing an additional 1,200 shares during the last quarter. Lineage Point Capital LP purchased a new stake in Oaktree Acquisition Corp. III Life Sciences in the 4th quarter valued at about $2,461,000. Empyrean Capital Partners LP raised its holdings in Oaktree Acquisition Corp. III Life Sciences by 20.0% in the 4th quarter. Empyrean Capital Partners LP now owns 900,000 shares of the company's stock valued at $9,522,000 after buying an additional 150,000 shares during the period. Finally, Radcliffe Capital Management L.P. lifted its position in Oaktree Acquisition Corp. III Life Sciences by 67.1% in the fourth quarter. Radcliffe Capital Management L.P. now owns 377,065 shares of the company's stock valued at $3,989,000 after buying an additional 151,403 shares during the last quarter.

Oaktree Acquisition Corp. III Life Sciences Company Profile

Oaktree Acquisition Corp. III Life Sciences NASDAQ: OACC is a special purpose acquisition company (“SPAC”) formed to pursue merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combinations with one or more businesses in the life sciences sector. Incorporated as a Cayman Islands exempted company, OACC is sponsored by Oaktree Capital Management, a global alternative investment firm with a longstanding track record in credit strategies and private equity.

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