Short Interest in Enveric Biosciences, Inc. (NASDAQ:ENVB) Declines By 86.9%
by Doug Wharley · The Cerbat GemEnveric Biosciences, Inc. (NASDAQ:ENVB – Get Free Report) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 115,974 shares, a decrease of 86.9% from the April 30th total of 886,509 shares. Based on an average daily volume of 402,818 shares, the short-interest ratio is presently 0.3 days. Approximately 3.2% of the company’s shares are short sold.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC increased its position in Enveric Biosciences, Inc. (NASDAQ:ENVB – Free Report) by 96.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 203,679 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. AdvisorShares Investments LLC owned 39.32% of Enveric Biosciences worth $130,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 13.82% of the company’s stock.
Enveric Biosciences Stock Down 0.9%
Shares of Enveric Biosciences stock traded down $0.02 during trading hours on Friday, hitting $2.30. The company’s stock had a trading volume of 97,493 shares, compared to its average volume of 312,315. Enveric Biosciences has a 1-year low of $1.71 and a 1-year high of $17.64. The business has a fifty day moving average of $2.60 and a 200 day moving average of $3.49. The company has a market capitalization of $8.47 million, a PE ratio of -0.10 and a beta of 1.24.
Enveric Biosciences (NASDAQ:ENVB – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($1.08) earnings per share (EPS) for the quarter.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Enveric Biosciences to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Enveric Biosciences has an average rating of “Sell”.
View Our Latest Analysis on ENVB
About Enveric Biosciences
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.