Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC) Short Interest Update

Key Points

• Short interest plunged 83.6% to 208 shares as of September 15, representing approximately 0.0% of OACC’s shares and a 0.0-day days-to-cover ratio.
• Several institutional investors increased their positions, including Empyrean Capital Partners, which held 900,000 shares, and Radcliffe Capital Management, which raised its stake by 67.1%.
• OACC traded around $10.77, within its $10.45–$10.88 one-year range, while the sole analyst rating remained Sell despite a slight upgrade from “sell (d)” to “sell (d+).”

Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 208 shares, a decrease of 83.6% from the August 31st total of 1,269 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 43,916 shares, the days-to-cover ratio is presently 0.0 days.

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

Several hedge funds have recently added to or reduced their stakes in the company. Lineage Point Capital LP bought a new stake in shares of Oaktree Acquisition Corp. III Life Sciences in the 4th quarter valued at about $2,461,000. Radcliffe Capital Management L.P. grew its position in 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 worth $3,989,000 after acquiring an additional 151,403 shares during the last quarter. Empyrean Capital Partners LP increased its stake 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 worth $9,522,000 after purchasing an additional 150,000 shares during the period. Sculptor Capital LP lifted its position in Oaktree Acquisition Corp. III Life Sciences by 6.1% in the fourth quarter. Sculptor Capital LP now owns 530,537 shares of the company's stock valued at $5,613,000 after purchasing an additional 30,537 shares during the last quarter. Finally, Rangeley Capital LLC lifted its position in Oaktree Acquisition Corp. III Life Sciences by 52.8% in the first 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.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Oaktree Acquisition Corp. III Life Sciences from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

Oaktree Acquisition Corp. III Life Sciences Stock Performance

Shares of NASDAQ OACC traded down $0.01 during midday trading on Friday, reaching $10.77. 832 shares of the company were exchanged, compared to its average volume of 32,798. Oaktree Acquisition Corp. III Life Sciences has a one year low of $10.45 and a one year high of $10.88. The stock's 50-day moving average price is $10.76 and its 200-day moving average price is $10.70.

Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.07 EPS for the quarter.

About Oaktree Acquisition Corp. III Life Sciences

Oaktree Acquisition Corp. III Life Sciences NASDAQ: OACC is a special purpose acquisition company (SPAC) formed to identify and combine with a business in the life sciences sector. Unlike an operating company, it does not manufacture products or provide healthcare services of its own.

The company's stated investment focus includes businesses involved in pharmaceuticals, biotechnology, medical devices, healthcare services and related life sciences technologies. Its objective is to complete a merger, stock purchase, asset acquisition, reorganization or similar business combination with a target company.

Oaktree Acquisition Corp.

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