Enveric Biosciences, Inc. (NASDAQ:ENVB) Sees Large Decrease in Short Interest

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 15,675 shares, a drop of 66.2% from the June 15th total of 46,331 shares. Based on an average daily volume of 142,701 shares, the short-interest ratio is currently 0.1 days. Currently, 0.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Enveric Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Enveric Biosciences Price Performance

Enveric Biosciences stock opened at $1.35 on Monday. Enveric Biosciences has a twelve month low of $1.26 and a twelve month high of $17.64. The firm has a 50 day moving average price of $1.94 and a 200-day moving average price of $2.56. The company has a market capitalization of $4.97 million, a P/E ratio of -0.06 and a beta of 1.15.

Enveric Biosciences (NASDAQ:ENVB) last posted its quarterly earnings results on Friday, May 15th. The company reported ($1.08) EPS for the quarter.

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.