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

ABVC BioPharma, Inc. (NASDAQ:ABVC) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 321,400 shares, a decrease of 22.7% from the February 28th total of 415,800 shares. Based on an average trading volume of 490,100 shares, the days-to-cover ratio is presently 0.7 days. Approximately 2.9% of the shares of the stock are sold short.

Institutional Trading of ABVC BioPharma

An institutional investor recently raised its position in ABVC BioPharma stock. Avantax Planning Partners Inc. raised its stake in ABVC BioPharma, Inc. (NASDAQ:ABVC) by 269.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,968 shares of the company’s stock after buying 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. Hedge funds and other institutional investors own 11.38% of the company’s stock.

ABVC BioPharma Stock Performance

ABVC opened at $1.32 on Wednesday. ABVC BioPharma has a 52-week low of $0.40 and a 52-week high of $1.73. The firm has a market cap of $17.13 million, a P/E ratio of -1.53 and a beta of 0.67. The business’s fifty day moving average is $0.63 and its 200-day moving average is $0.59.

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.