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

ABVC BioPharma, Inc. (NASDAQ:ABVC) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 220,000 shares, a decline of 25.0% from the January 15th total of 293,400 shares. Based on an average daily trading volume, of 197,200 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On 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% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 approximately 1.11% of ABVC BioPharma worth $85,000 at the end of the most recent reporting period. 11.38% of the stock is currently owned by institutional investors and hedge funds.

ABVC BioPharma Stock Performance

NASDAQ:ABVC opened at $0.42 on Friday. ABVC BioPharma has a 1 year low of $0.40 and a 1 year high of $1.73. The stock has a fifty day moving average price of $0.53 and a two-hundred day moving average price of $0.59. The stock has a market capitalization of $5.44 million, a price-to-earnings ratio of -0.49 and a beta of 0.67.

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.