Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Update

by · The Markets Daily

Enveric Biosciences, Inc. (NASDAQ:ENVB – Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 179,500 shares, a decrease of 25.5% from the March 15th total of 241,100 shares. Currently, 7.7% of the shares of the company are sold short. Based on an average daily volume of 2,670,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC increased its stake in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB – Free Report) by 63.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 599,854 shares of the company’s stock after acquiring an additional 232,807 shares during the quarter. AdvisorShares Investments LLC owned about 88.21% of Enveric Biosciences worth $215,000 at the end of the most recent reporting period. 13.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Enveric Biosciences in a research note on Thursday, March 6th.

Check Out Our Latest Analysis on ENVB

Enveric Biosciences Price Performance

Shares of NASDAQ ENVB traded down $0.06 during trading hours on Friday, hitting $1.17. 37,993 shares of the company’s stock were exchanged, compared to its average volume of 735,468. The company’s 50-day moving average price is $1.57 and its 200-day moving average price is $4.13. Enveric Biosciences has a 1-year low of $1.01 and a 1-year high of $15.45. The stock has a market capitalization of $2.89 million, a price-to-earnings ratio of -0.03 and a beta of 0.65.

Enveric Biosciences Company Profile

(Get Free Report)

Enveric Biosciences, Inc, a biotechnology company, engages in the development of small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders. Its lead product candidates are EB-002, an active metabolite of psilocybin, which is in preclinical development stage for the treatment of anxiety disorders; and EB-003 that is in preclinical development stage for the treatment mental health.

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