Frazier Lifesciences Acquisition Co. (NASDAQ:FLAC – Get Rating) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 4,700 shares, an increase of 104.3% from the May 31st total of 2,300 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 25,600 shares, the days-to-cover ratio is presently 0.2 days.
A number of hedge funds have recently added to or reduced their stakes in the stock. Spartan Fund Management Inc. acquired a new position in Frazier Lifesciences Acquisition during the 1st quarter worth approximately $2,949,000. Sculptor Capital LP bought a new position in Frazier Lifesciences Acquisition during the 1st quarter worth $131,000. Glazer Capital LLC grew its position in shares of Frazier Lifesciences Acquisition by 1.6% in the 1st quarter. Glazer Capital LLC now owns 121,028 shares of the company’s stock valued at $1,190,000 after buying an additional 1,915 shares during the last quarter. Radcliffe Capital Management L.P. increased its stake in shares of Frazier Lifesciences Acquisition by 35.0% in the first quarter. Radcliffe Capital Management L.P. now owns 337,477 shares of the company’s stock valued at $3,321,000 after buying an additional 87,477 shares during the period. Finally, Saba Capital Management L.P. raised its position in shares of Frazier Lifesciences Acquisition by 32.8% during the first quarter. Saba Capital Management L.P. now owns 325,823 shares of the company’s stock worth $3,206,000 after acquiring an additional 80,502 shares during the last quarter. Institutional investors and hedge funds own 45.63% of the company’s stock.
FLAC stock opened at $9.88 on Friday. The company has a 50 day simple moving average of $9.86 and a 200 day simple moving average of $9.82. Frazier Lifesciences Acquisition has a 1 year low of $9.65 and a 1 year high of $10.02.
Frazier Lifesciences Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses or entities in the biotechnology sector. The company was incorporated in 2020 and is based in Seattle, Washington.
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