ABVC BioPharma (NASDAQ:ABVC) Shares Down 1.3% – Here’s Why

ABVC BioPharma, Inc. (NASDAQ:ABVC) fell 1.3% during trading on Tuesday . The company traded as low as $2.95 and last traded at $3.04. 59,983 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 95,982 shares. The stock had previously closed at $3.08.

ABVC BioPharma Stock Performance

The company has a market cap of $71.57 million, a price-to-earnings ratio of -17.88 and a beta of 0.27. The company’s fifty day moving average is $2.92 and its two-hundred day moving average is $2.09.

ABVC BioPharma (NASDAQ:ABVC) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.13) EPS for the quarter. ABVC BioPharma had a negative net margin of 963.46% and a negative return on equity of 46.76%.

Hedge Funds Weigh In On ABVC BioPharma

A hedge fund recently raised its stake in ABVC BioPharma stock. Geode Capital Management LLC lifted its position in ABVC BioPharma, Inc. (NASDAQ:ABVC) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,499 shares of the company’s stock after purchasing an additional 6,017 shares during the period. Geode Capital Management LLC owned about 0.65% of ABVC BioPharma worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 11.38% of the company’s stock.

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.