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

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 62,720 shares, a decrease of 45.0% from the December 15th total of 114,023 shares. Based on an average daily volume of 83,609 shares, the short-interest ratio is presently 0.8 days. Approximately 10.6% of the company’s stock are short sold. Approximately 10.6% of the company’s stock are short sold. Based on an average daily volume of 83,609 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Enveric Biosciences

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its position in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 96.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing. Institutional investors and hedge funds own 13.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ENVB. Wall Street Zen raised shares of Enveric Biosciences to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.00.

Enveric Biosciences Trading Down 3.9%

Shares of ENVB stock traded down $0.16 during trading hours on Friday, hitting $3.92. 28,024 shares of the company were exchanged, compared to its average volume of 56,270. The firm has a fifty day simple moving average of $5.19 and a 200 day simple moving average of $9.39. Enveric Biosciences has a 52-week low of $3.50 and a 52-week high of $66.58.

Enveric Biosciences (NASDAQ:ENVB) last posted its quarterly earnings data on Friday, November 14th. The company reported ($10.81) EPS for the quarter, beating the consensus estimate of ($63.00) by $52.19. Sell-side analysts anticipate that Enveric Biosciences will post -31.18 earnings per share for the current year.

Enveric Biosciences Company Profile

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.