Short Interest in ABVC BioPharma, Inc. (NASDAQ:ABVC) Decreases By 22.7%

ABVC BioPharma, Inc. (NASDAQ:ABVC) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 321,400 shares, a decrease of 22.7% from the February 28th total of 415,800 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily volume of 490,100 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On ABVC BioPharma

An institutional investor recently raised its position in ABVC BioPharma stock. Avantax Planning Partners Inc. boosted its holdings in ABVC BioPharma, Inc. (NASDAQ:ABVC) by 269.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 143,968 shares of the company’s stock after purchasing an additional 104,968 shares during the quarter. Avantax Planning Partners Inc. owned about 1.11% of ABVC BioPharma worth $85,000 at the end of the most recent quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

ABVC BioPharma Price Performance

Shares of ABVC BioPharma stock opened at $1.06 on Tuesday. The business has a 50-day simple moving average of $0.61 and a 200 day simple moving average of $0.59. ABVC BioPharma has a one year low of $0.40 and a one year high of $1.73. The firm has a market capitalization of $13.75 million, a price-to-earnings ratio of -1.23 and a beta of 0.67.

ABVC BioPharma Company Profile

ABVC BioPharma, Inc, a clinical stage biopharmaceutical company, develops drugs and medical devices to fulfill unmet medical needs in the United States. The company is developing ABV-1501, which is in Phase II clinical trials a combination therapy for triple negative breast cancer; ABV-1504 has completed Phase II clinical trials for major depressive disorders; ABV-1505, which is in Phase II clinical trials for adult attention deficit hyperactivity disorder; ABV-1703, which is in Phase II clinical trials for the treatment of metastatic pancreatic cancer; ABV-1702, which is in Phase II clinical trials to treat myelodysplastic syndromes; and ABV-1601 that is in Phase I/II clinical trials for treating depression in cancer patients.