Short Interest in Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC) Declines By 85.4%

Key Points

• Short interest plunged 85.4% to 1,269 shares as of August 31, down from 8,695 shares on August 15. Short interest now represents 0.0% of shares, with a short-interest ratio of 0.1 days.
• Analyst sentiment remains negative: Weiss Ratings raised its rating slightly from “sell (d)” to “sell (d+),” while the sole analyst covering OACC maintains a Sell rating.
• OACC shares rose 0.1% to $10.78, within their 52-week range of $10.44 to $10.88. The SPAC reported quarterly earnings of $0.07 per share, and several institutional investors increased their positions.

Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 1,269 shares, a drop of 85.4% from the August 15th total of 8,695 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 24,351 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Oaktree Acquisition Corp. III Life Sciences has an average rating of "Sell".

Institutional Trading of Oaktree Acquisition Corp. III Life Sciences

Large investors have recently bought and sold shares of the business. DLD Asset Management LP boosted its holdings in shares of Oaktree Acquisition Corp. III Life Sciences by 0.9% in the first quarter. DLD Asset Management LP now owns 136,735 shares of the company's stock valued at $1,447,000 after acquiring an additional 1,200 shares in the last quarter. Verition Fund Management LLC raised its holdings in Oaktree Acquisition Corp. III Life Sciences by 6.7% during the third quarter. Verition Fund Management LLC now owns 161,740 shares of the company's stock worth $1,693,000 after purchasing an additional 10,117 shares in the last quarter. 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 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 period. Finally, Radcliffe Capital Management L.P. purchased a new stake in Oaktree Acquisition Corp. III Life Sciences in the 2nd quarter valued at approximately $856,000.

Oaktree Acquisition Corp. III Life Sciences Trading Up 0.1%

OACC traded up $0.01 during trading on Friday, hitting $10.78. 850 shares of the stock were exchanged, compared to its average volume of 36,212. Oaktree Acquisition Corp. III Life Sciences has a 1-year low of $10.44 and a 1-year high of $10.88. The stock has a fifty day moving average price of $10.75 and a two-hundred day moving average price of $10.70.

Oaktree Acquisition Corp. III Life Sciences (NASDAQ:OACC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.07 earnings per share 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 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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