Enveric Biosciences (NASDAQ:ENVB – Get Free Report) posted its quarterly earnings results on Friday. The company reported ($1.08) EPS for the quarter, FiscalAI reports.
Enveric Biosciences Trading Down 1.7%
Shares of NASDAQ ENVB traded down $0.04 during midday trading on Friday, hitting $2.25. The company’s stock had a trading volume of 134,720 shares, compared to its average volume of 11,244,770. The firm has a market capitalization of $4.48 million, a price-to-earnings ratio of -0.06 and a beta of 1.24. The stock has a fifty day moving average price of $2.55 and a 200 day moving average price of $3.79. Enveric Biosciences has a one year low of $1.71 and a one year high of $17.64.
Analyst Ratings Changes
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Enveric Biosciences in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Enveric Biosciences presently has an average rating of “Sell”.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC grew its stake in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB – Free Report) by 96.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,679 shares of the company’s stock after acquiring an additional 100,000 shares during the period. AdvisorShares Investments LLC owned 39.32% of Enveric Biosciences worth $130,000 at the end of the most recent reporting period. 13.82% of the stock is owned by institutional investors.
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.
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