Enveric Biosciences, Inc. (NASDAQ:ENVB) Sees Significant Increase in Short Interest

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a large growth in short interest in December. As of December 15th, there was short interest totaling 114,023 shares, a growth of 161.4% from the November 30th total of 43,623 shares. Currently, 19.2% of the shares of the stock are short sold. Based on an average daily volume of 3,539,788 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 3,539,788 shares, the short-interest ratio is currently 0.0 days. Currently, 19.2% of the shares of the stock are short sold.

Institutional Trading of Enveric Biosciences

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,679 shares of the company’s stock after buying an additional 13,355 shares during the period. AdvisorShares Investments LLC owned 4.20% of Enveric Biosciences worth $125,000 as of its most recent SEC filing. Institutional investors and hedge funds own 13.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Enveric Biosciences to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $120.00.

Enveric Biosciences Stock Performance

Shares of NASDAQ:ENVB traded down $0.53 during trading on Friday, hitting $4.11. The company’s stock had a trading volume of 78,058 shares, compared to its average volume of 2,046,538. Enveric Biosciences has a fifty-two week low of $4.11 and a fifty-two week high of $96.30. The company has a market capitalization of $2.45 million, a PE ratio of -0.11 and a beta of 0.22. The business has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $10.44.

Enveric Biosciences (NASDAQ:ENVB) last announced its quarterly earnings data on Friday, November 14th. The company reported ($10.81) EPS for the quarter, topping analysts’ consensus estimates of ($63.00) by $52.19. As a group, equities analysts expect that Enveric Biosciences will post -31.18 earnings per share for the current fiscal year.

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.