ABVC BioPharma Inc [NASDAQ: ABVC] slipped around -0.04 points on Wednesday, while shares priced at $1.14 at the close of the session, down -3.39%. The company report on April 10, 2024 at 8:30 AM that ABVC BioPharma Executes a Global Licensing Term Sheet for Oncology/Hematology Products, Expecting Licensing Income of $55M and Royalties of up to $50M.
The United States Food & Drug Administration (US FDA) has approved four INDs: ABV-1519 (IND 129575) for Triple Negative Breast Cancer (TNBC), ABV-1501 (IND 161602) for Non-Small Cell Lung Cancer (NSCLC), ABV-1702 (IND 131300) for Myelodysplastic Syndrome (MDS), and ABV-1703 (IND 136309) for Pancreatic Cancer Therapy. The Investigational New Drug (IND) application proposed the clinical investigation of BLEX 404 as the primary active ingredient. The active ingredient of BLEX 404 is the β-glucan extracted from Grifola frondosa (maitake mushrooms), an edible fungus with high medical and commercial values in Asia; it contains various bioactive constituents such as polysaccharides, pyrrole alkaloids, ergosterol, etc., and has been widely served as functional foods for a long time in daily life.[1].
Compared to the average trading volume of 679.87K shares, ABVC reached a trading volume of 3776198 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about ABVC BioPharma Inc [ABVC]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABVC shares is $20.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABVC stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for ABVC BioPharma Inc is set at 0.10, with the Price to Sales ratio for ABVC stock in the period of the last 12 months amounting to 80.26. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 0.08.
How has ABVC stock performed recently?
ABVC BioPharma Inc [ABVC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.63. With this latest performance, ABVC shares dropped by -6.56% in over the last four-week period, additionally plugging by 34.12% over the last 6 months – not to mention a drop of -82.92% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABVC stock in for the last two-week period is set at 42.66, with the RSI for the last a single of trading hit 38.66, and the three-weeks RSI is set at 44.57 for ABVC BioPharma Inc [ABVC]. The present Moving Average for the last 50 days of trading for this stock 1.2559, while it was recorded at 1.2240 for the last single week of trading, and 1.7098 for the last 200 days.
ABVC BioPharma Inc [ABVC]: Deeper insight into the fundamentals
ABVC BioPharma Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.28 and a Current Ratio set at 0.28.
Earnings analysis for ABVC BioPharma Inc [ABVC]
With the latest financial reports released by the company, ABVC BioPharma Inc posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABVC.
Insider trade positions for ABVC BioPharma Inc [ABVC]
The top three institutional holders of ABVC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ABVC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ABVC stock with ownership which is approximately 5.8386%.
