Enveric Biosciences, Inc. (NASDAQ:ENVB) Stock Short Interest Rises 150.7%

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 38,702 shares, a growth of 150.7% from the September 30th total of 15,435 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 73,479 shares, the short-interest ratio is currently 0.5 days.

Enveric Biosciences Stock Down 2.1%

Shares of NASDAQ:ENVB traded down $0.03 during trading on Friday, reaching $1.43. 11,986 shares of the company’s stock traded hands, compared to its average volume of 55,642. Enveric Biosciences has a fifty-two week low of $1.17 and a fifty-two week high of $13.25. The firm has a market cap of $6.40 million, a PE ratio of -0.11 and a beta of 1.18. The company has a 50-day simple moving average of $1.45 and a 200-day simple moving average of $2.02.

Enveric Biosciences (NASDAQ:ENVB) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.76) earnings per share for the quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on ENVB shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a report on Thursday, October 15th. Wall Street Zen raised Enveric Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

Enveric Biosciences Company Profile

Enveric Biosciences, Inc is a biotechnology company focused on discovering and developing novel small-molecule therapeutics for cancer and central nervous system disorders. The company’s research uses insights from cannabinoid science and psychedelic-inspired compounds to identify potential treatments for conditions with significant unmet medical needs.

Enveric has developed a portfolio of proprietary drug candidates and intellectual property, including programs aimed at mental health conditions such as depression and other neurological disorders, as well as therapies intended to address cancer-related symptoms and supportive-care needs.