Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC) Stock Price Down 0.2% - Here's Why

Key Points

• Shares fell about 0.2% to $10.625 with trading volume surging ~548% to 125,564 shares versus an average of 19,364.
• Analysts maintain a consensus Sell rating, with Weiss Ratings reaffirming a "sell (d)" on April 2.
• Several hedge funds (Empyrean, Radcliffe, Sculptor, Verition and Lineage Point) recently built or increased positions worth millions, indicating notable institutional buying despite the sell consensus.

Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC - Get Free Report) shares were down 0.2% on Thursday . The company traded as low as $10.57 and last traded at $10.6250. Approximately 125,564 shares changed hands during trading, an increase of 548% from the average daily volume of 19,364 shares. The stock had previously closed at $10.65.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oaktree Acquisition Corp. III Life Sciences in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Oaktree Acquisition Corp. III Life Sciences has a consensus rating of "Sell".

Oaktree Acquisition Corp. III Life Sciences Stock Down 0.2%

The company's 50 day simple moving average is $10.65 and its 200 day simple moving average is $10.61.

Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC - Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The company reported $0.08 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Oaktree Acquisition Corp. III Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lineage Point Capital LP acquired a new position in shares of Oaktree Acquisition Corp. III Life Sciences during the 4th quarter valued at $2,461,000. Empyrean Capital Partners LP lifted its holdings in shares of Oaktree Acquisition Corp. III Life Sciences by 20.0% during the 4th quarter. Empyrean Capital Partners LP now owns 900,000 shares of the company's stock valued at $9,522,000 after acquiring an additional 150,000 shares in the last quarter. Radcliffe Capital Management L.P. lifted its holdings in shares of Oaktree Acquisition Corp. III Life Sciences by 67.1% during the 4th quarter. Radcliffe Capital Management L.P. now owns 377,065 shares of the company's stock valued at $3,989,000 after acquiring an additional 151,403 shares in the last quarter. Sculptor Capital LP lifted its holdings in shares of Oaktree Acquisition Corp. III Life Sciences by 6.1% during the 4th quarter. Sculptor Capital LP now owns 530,537 shares of the company's stock valued at $5,613,000 after acquiring an additional 30,537 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of Oaktree Acquisition Corp. III Life Sciences by 91.5% during the 4th quarter. Verition Fund Management LLC now owns 309,740 shares of the company's stock valued at $3,293,000 after acquiring an additional 148,000 shares in 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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