Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Update
by Renee Jackson · The Cerbat GemEnveric Biosciences, Inc. (NASDAQ:ENVB – Get Free Report) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 886,509 shares, a growth of 1,306.6% from the April 15th total of 63,023 shares. Based on an average daily volume of 20,588,013 shares, the days-to-cover ratio is currently 0.0 days. Approximately 45.8% of the company’s shares are short sold.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.
View Our Latest Stock Analysis on ENVB
Enveric Biosciences Stock Down 1.4%
Shares of ENVB stock traded down $0.04 during mid-day trading on Monday, hitting $2.81. 213,656 shares of the company’s stock were exchanged, compared to its average volume of 11,771,172. Enveric Biosciences has a fifty-two week low of $1.71 and a fifty-two week high of $17.84. The stock has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $3.91. The stock has a market cap of $5.58 million, a price-to-earnings ratio of -0.08 and a beta of 1.24.
Institutional Investors Weigh In On Enveric Biosciences
A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC lifted its holdings in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB – Free Report) by 96.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,679 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. AdvisorShares Investments LLC owned about 39.32% of Enveric Biosciences worth $130,000 as of its most recent SEC filing. Institutional investors and hedge funds own 13.82% of the company’s stock.
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.