Enveric Biosciences (NASDAQ:ENVB) Shares Set to Reverse Split on Tuesday, October 28th

Enveric Biosciences, Inc. (NASDAQ:ENVB) shares are set to reverse split on Tuesday, October 28th. The 1-12 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, October 27th.

Enveric Biosciences Trading Down 8.3%

NASDAQ ENVB opened at $0.61 on Friday. The firm has a market capitalization of $3.81 million, a P/E ratio of -0.02 and a beta of 0.60. The firm’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $1.12. Enveric Biosciences has a 1 year low of $0.56 and a 1 year high of $8.25.

Enveric Biosciences (NASDAQ:ENVB) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.97) EPS for the quarter, beating analysts’ consensus estimates of ($5.25) by $4.28. On average, research analysts anticipate that Enveric Biosciences will post -31.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Enveric Biosciences currently has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Investors Weigh In On Enveric Biosciences

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) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,679 shares of the company’s stock after buying an additional 13,355 shares during the quarter. AdvisorShares Investments LLC owned about 4.20% of Enveric Biosciences worth $125,000 at the end of the most recent reporting period. Institutional investors own 13.82% of the company’s stock.

Enveric Biosciences Company Profile

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.