ABVC BioPharma, Inc. (NASDAQ:ABVC) Sees Significant Increase in Short Interest

ABVC BioPharma, Inc. (NASDAQ:ABVC) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 131,700 shares, an increase of 18.4% from the September 15th total of 111,200 shares. Based on an average daily volume of 74,600 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.3% of the shares of the stock are sold short.

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. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

ABVC BioPharma Stock Performance

ABVC BioPharma stock opened at $0.50 on Tuesday. The firm has a market cap of $5.43 million, a P/E ratio of -0.22 and a beta of 0.81. The business’s fifty day moving average is $0.66 and its two-hundred day moving average is $0.85. ABVC BioPharma has a 52 week low of $0.41 and a 52 week high of $3.35.

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

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.