ABVC BioPharma (NASDAQ:ABVC) Issues Quarterly Earnings Results

Key Points

• ABVC BioPharma reported a quarterly earnings loss of ($0.13) per share, along with a negative return on equity of 29.62% and a net margin of 963.46%.
• The company’s stock price increased by 1.0% to reach $2.97, with shares exchanged totaling 77,893, significantly lower than its average volume of 482,299.
• Institutional investors own approximately 11.38% of ABVC BioPharma's stock, with Geode Capital Management increasing its position by 5.8% in the second quarter.

ABVC BioPharma (NASDAQ:ABVC - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.13) earnings per share for the quarter, Zacks reports. ABVC BioPharma had a negative return on equity of 29.62% and a negative net margin of 963.46%.

ABVC BioPharma Trading Up 1.0%

Shares of ABVC BioPharma stock traded up $0.03 during mid-day trading on Wednesday, reaching $2.97. 77,893 shares of the stock were exchanged, compared to its average volume of 482,299. The company has a market cap of $50.44 million, a price-to-earnings ratio of -22.85 and a beta of 0.27. The firm has a 50-day simple moving average of $2.72 and a 200 day simple moving average of $1.52. ABVC BioPharma has a fifty-two week low of $0.40 and a fifty-two week high of $5.48.

Institutional Investors Weigh In On ABVC BioPharma

An institutional investor recently raised its position in ABVC BioPharma stock. Geode Capital Management LLC increased its position in shares of ABVC BioPharma, Inc. (NASDAQ:ABVC - Free Report) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,499 shares of the company's stock after acquiring an additional 6,017 shares during the quarter. Geode Capital Management LLC owned about 0.65% of ABVC BioPharma worth $246,000 as of its most recent SEC filing. 11.38% of the stock is owned by institutional investors and hedge funds.

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.

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