Short Interest in ABVC BioPharma, Inc. (NASDAQ:ABVC) Grows By 8.1%

ABVC BioPharma, Inc. (NASDAQ:ABVC) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 137,500 shares, an increase of 8.1% from the August 15th total of 127,200 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 89,500 shares, the short-interest ratio is currently 1.5 days.

Institutional Trading of ABVC BioPharma

An institutional investor recently bought a new position in ABVC BioPharma stock. Chase Investment Counsel Corp purchased a new stake in ABVC BioPharma, Inc. (NASDAQ:ABVC) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 178,377 shares of the company’s stock, valued at approximately $233,000. Chase Investment Counsel Corp owned about 1.69% of ABVC BioPharma as of its most recent SEC filing. Institutional investors own 11.38% of the company’s stock.

ABVC BioPharma Price Performance

Shares of ABVC opened at $0.65 on Wednesday. The firm has a 50 day simple moving average of $0.72 and a 200-day simple moving average of $0.93. ABVC BioPharma has a 1-year low of $0.60 and a 1-year high of $3.35. The stock has a market cap of $7.09 million, a price-to-earnings ratio of -0.29 and a beta of 0.81.

ABVC BioPharma (NASDAQ:ABVC) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.09) earnings per share for the quarter. The business 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.