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

ABVC BioPharma, Inc. (NASDAQ:ABVC) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 321,400 shares, a drop 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.

ABVC BioPharma Stock Up 23.3 %

Shares of NASDAQ:ABVC opened at $1.06 on Tuesday. The business’s 50 day moving average is $0.61 and its 200 day moving average is $0.59. ABVC BioPharma has a 12-month low of $0.40 and a 12-month high of $1.73. The stock has a market cap of $13.75 million, a price-to-earnings ratio of -1.23 and a beta of 0.67.

Hedge Funds Weigh In On ABVC BioPharma

A hedge fund recently raised its stake in ABVC BioPharma stock. Avantax Planning Partners Inc. increased its position in shares of ABVC BioPharma, Inc. (NASDAQ:ABVC) by 269.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,968 shares of the company’s stock after purchasing an additional 104,968 shares during the quarter. Avantax Planning Partners Inc. owned approximately 1.11% of ABVC BioPharma worth $85,000 as of its most recent SEC filing. 11.38% of the stock is owned by institutional investors and hedge funds.

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.