Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Down 24.8% in March
by Amy Steele · The Cerbat GemEnveric Biosciences, Inc. (NASDAQ:ENVB – Get Free Report) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 70,703 shares, a decline of 24.8% from the March 15th total of 93,975 shares. Currently, 3.8% of the company’s stock are sold short. Based on an average daily trading volume, of 31,783 shares, the days-to-cover ratio is currently 2.2 days.
Enveric Biosciences Price Performance
ENVB traded up $0.08 on Wednesday, hitting $2.03. The company had a trading volume of 36,160 shares, compared to its average volume of 314,587. The company’s fifty day moving average price is $2.09 and its 200 day moving average price is $4.50. Enveric Biosciences has a 1-year low of $1.75 and a 1-year high of $17.84. The stock has a market cap of $3.84 million, a price-to-earnings ratio of -0.05 and a beta of 0.34.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its holdings in Enveric Biosciences, Inc. (NASDAQ:ENVB – Free Report) by 96.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,679 shares of the company’s stock after buying an additional 100,000 shares during the period. AdvisorShares Investments LLC owned approximately 39.32% of Enveric Biosciences worth $130,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.82% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.
View Our Latest Report on Enveric Biosciences
Enveric Biosciences Company Profile
Enveric Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of novel psychedelic-based therapeutics for the treatment of psychiatric and neurological disorders. The company’s research platform leverages proprietary medicinal chemistry to design, synthesize and optimize molecules derived from established psychoactive compounds, with a goal of improving safety, efficacy and tolerability compared with traditional formulations.
Enveric’s preclinical pipeline features synthetic analogs of ibogaine, psilocybin and MDMA, each engineered to enhance therapeutic outcomes in conditions such as post-traumatic stress disorder, major depressive disorder and anxiety.