Short Interest in Enveric Biosciences, Inc. (NASDAQ:ENVB) Expands By 90.8%

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 118,369 shares, a growth of 90.8% from the February 12th total of 62,034 shares. Currently, 8.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,015,884 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 2,015,884 shares, the short-interest ratio is currently 0.1 days. Currently, 8.6% of the shares of the stock are short sold.

Institutional Trading of Enveric Biosciences

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC raised its holdings in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 96.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,679 shares of the company’s stock after buying an additional 100,000 shares during the period. AdvisorShares Investments LLC owned about 39.32% of Enveric Biosciences worth $130,000 at the end of the most recent reporting period. Institutional investors own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Enveric Biosciences Stock Performance

ENVB stock traded down $0.02 during mid-day trading on Friday, reaching $1.90. 22,431 shares of the stock traded hands, compared to its average volume of 442,356. Enveric Biosciences has a one year low of $1.82 and a one year high of $22.20. The stock has a market capitalization of $2.64 million, a PE ratio of -0.05 and a beta of 0.31. The business has a 50-day moving average price of $2.94 and a two-hundred day moving average price of $6.04.

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.