ABVC BioPharma, Inc. (NASDAQ:ABVC) Short Interest Down 22.7% in March

ABVC BioPharma, Inc. (NASDAQ:ABVC) was the recipient of 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 shares are sold short. Based on an average daily volume of 490,100 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On ABVC BioPharma

An institutional investor recently raised its position in ABVC BioPharma stock. Avantax Planning Partners Inc. boosted its stake in ABVC BioPharma, Inc. (NASDAQ:ABVC) by 269.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,968 shares of the company’s stock after acquiring an additional 104,968 shares during the period. Avantax Planning Partners Inc. owned 1.11% of ABVC BioPharma worth $85,000 at the end of the most recent quarter. Institutional investors own 11.38% of the company’s stock.

ABVC BioPharma Price Performance

ABVC BioPharma stock opened at $1.32 on Wednesday. The business has a 50 day moving average of $0.63 and a 200-day moving average of $0.59. The company has a market capitalization of $17.13 million, a P/E ratio of -1.53 and a beta of 0.67. ABVC BioPharma has a 1 year low of $0.40 and a 1 year high of $1.73.

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.