ABVC BioPharma (NASDAQ:ABVC) Trading Up 0.4% – Still a Buy?

ABVC BioPharma, Inc. (NASDAQ:ABVC) shares were up 0.4% on Friday . The company traded as high as $0.66 and last traded at $0.64. Approximately 199,668 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 500,786 shares. The stock had previously closed at $0.64.

ABVC BioPharma Stock Performance

The stock’s 50 day moving average price is $0.57 and its 200-day moving average price is $0.59. The company has a market cap of $8.29 million, a PE ratio of -0.74 and a beta of 0.67.

Institutional Trading of ABVC BioPharma

A hedge fund recently raised its stake in ABVC BioPharma stock. Avantax Planning Partners Inc. lifted its stake in ABVC BioPharma, Inc. (NASDAQ:ABVC) by 269.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,968 shares of the company’s stock after buying an additional 104,968 shares during the period. Avantax Planning Partners Inc. owned approximately 1.11% of ABVC BioPharma worth $85,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.