JATT Acquisition (NYSE:JATT) Stock Price Down 2.1% – Here’s Why

Shares of JATT Acquisition Corp (NYSE:JATT) traded down 2.1% during mid-day trading on Tuesday. The company traded as low as $10.51 and last traded at $10.51. 11,681 shares traded hands during trading, a decline of 54% from the average daily volume of 25,171 shares. The stock had previously closed at $10.73.

JATT Acquisition Stock Up 0.2%

The stock has a fifty day moving average price of $12.12 and a 200 day moving average price of $10.58.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in JATT Acquisition stock. Spruce Street Capital LP bought a new position in JATT Acquisition Corp (NYSE:JATT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 160,000 shares of the company’s stock, valued at approximately $1,817,600. Spruce Street Capital LP owned about 1.99% of JATT Acquisition at the end of the most recent quarter. Institutional investors own 47.97% of the company’s stock.

JATT Acquisition Company Profile

JATT Acquisition Corp. was a special purpose acquisition company formed to identify and complete a business combination with a company in the healthcare, biotechnology, pharmaceutical or medical-device sectors. As a blank-check company, it did not operate a commercial business or offer products and services of its own before completing a transaction.

JATT announced a business combination with Zura Bio Limited, a biotechnology company developing medicines for immune-mediated diseases. The transaction was completed in 2023, after which the combined company operated under the Zura Bio name and JATT Acquisition Corp.