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Weiss Ratings Reiterates Sell (E+) Rating for ABVC BioPharma (NASDAQ:ABVC)

ABVC BioPharma logo with Medical background

Key Points

  • Weiss Ratings has reiterated a "sell (e+)" rating for ABVC BioPharma (NASDAQ:ABVC) following their latest analysis.
  • ABVC BioPharma's stock price fell to $3.18 with a reported 12-month high of $5.48 and a low of $0.40.
  • Geode Capital Management recently increased its stake in ABVC BioPharma by 5.8%, now owning 0.65% of the company, highlighting institutional interest amidst the company's struggles.
  • MarketBeat previews the top five stocks to own by November 1st.

ABVC BioPharma (NASDAQ:ABVC - Get Free Report)'s stock had its "sell (e+)" rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

ABVC BioPharma Price Performance

ABVC traded down $0.05 during trading on Wednesday, hitting $3.18. 36,162 shares of the stock traded hands, compared to its average volume of 405,721. The firm has a market capitalization of $74.74 million, a P/E ratio of -18.68 and a beta of 0.30. The firm has a 50-day moving average of $2.92 and a 200 day moving average of $2.17. ABVC BioPharma has a 12-month low of $0.40 and a 12-month high of $5.48.

ABVC BioPharma (NASDAQ:ABVC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.13) earnings per share for the quarter.

Institutional Investors Weigh In On ABVC BioPharma

An institutional investor recently raised its position in ABVC BioPharma stock. Geode Capital Management LLC lifted its stake in ABVC BioPharma, Inc. (NASDAQ:ABVC - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 0.65% of ABVC BioPharma worth $246,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.38% of the company's stock.

ABVC BioPharma Company Profile

(Get Free Report)

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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