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

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a large growth in short interest in the month of 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 company are sold short. Based on an average trading volume of 3,539,788 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 3,539,788 shares, the days-to-cover ratio is currently 0.0 days. Currently, 19.2% of the shares of the company are sold short.

Enveric Biosciences Stock Down 5.6%

NASDAQ ENVB traded down $0.26 during midday trading on Friday, hitting $4.38. The company had a trading volume of 50,043 shares, compared to its average volume of 251,878. The firm has a fifty day simple moving average of $6.17 and a two-hundred day simple moving average of $10.55. Enveric Biosciences has a fifty-two week low of $4.32 and a fifty-two week high of $96.30. The stock has a market cap of $2.63 million, a price-to-earnings ratio of -0.12 and a beta of 0.22.

Enveric Biosciences (NASDAQ:ENVB) last released its earnings results on Friday, November 14th. The company reported ($10.81) earnings per share for the quarter, beating the consensus estimate of ($63.00) by $52.19. As a group, equities analysts predict that Enveric Biosciences will post -31.18 earnings per share for the current year.

Institutional Trading of Enveric Biosciences

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

Analyst Ratings Changes

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

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.