Short Interest in ABVC BioPharma, Inc. (NASDAQ:ABVC) Decreases By 19.1%

ABVC BioPharma, Inc. (NASDAQ:ABVC) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 111,200 shares, a decrease of 19.1% from the August 31st total of 137,500 shares. Based on an average daily volume of 74,200 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.1% of the company’s shares are short sold.

Institutional Investors Weigh In On ABVC BioPharma

A hedge fund recently bought a new stake in ABVC BioPharma stock. Chase Investment Counsel Corp purchased a new position in ABVC BioPharma, Inc. (NASDAQ:ABVC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 178,377 shares of the company’s stock, valued at approximately $233,000. Chase Investment Counsel Corp owned approximately 1.69% of ABVC BioPharma at the end of the most recent reporting period. Institutional investors and hedge funds own 11.38% of the company’s stock.

ABVC BioPharma Trading Up 4.1 %

NASDAQ ABVC opened at $0.69 on Friday. The stock has a 50-day simple moving average of $0.70 and a 200 day simple moving average of $0.90. The company has a market capitalization of $7.46 million, a PE ratio of -0.30 and a beta of 0.81. ABVC BioPharma has a 12 month low of $0.60 and a 12 month high of $3.35.

ABVC BioPharma (NASDAQ:ABVC) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.09) EPS for the quarter. The company had revenue of $0.12 million during the quarter. ABVC BioPharma had a negative net margin of 8,363.97% and a negative return on equity of 139.97%.

About ABVC BioPharma

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.