Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Update

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 200,600 shares, a decrease of 35.0% from the September 30th total of 308,600 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average daily volume of 502,200 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 502,200 shares, the days-to-cover ratio is currently 0.4 days. Approximately 3.7% of the shares of the company are short sold.

Enveric Biosciences Stock Up 24.2%

NASDAQ:ENVB traded up $1.38 during trading hours on Monday, reaching $7.08. The company had a trading volume of 1,323,602 shares, compared to its average volume of 95,760. The stock has a 50-day moving average of $9.54 and a two-hundred day moving average of $13.09. Enveric Biosciences has a one year low of $5.62 and a one year high of $96.30. The firm has a market capitalization of $3.67 million, a PE ratio of -1.22 and a beta of 0.60.

Enveric Biosciences (NASDAQ:ENVB) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($11.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($63.00) by $51.36. As a group, sell-side analysts expect 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 lifted its holdings in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 103,679 shares of the company’s stock after purchasing an additional 13,355 shares during the period. AdvisorShares Investments LLC owned 4.20% of Enveric Biosciences worth $125,000 at the end of the most recent reporting period. 13.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Enveric Biosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Enveric Biosciences currently has an average rating of “Hold” and an average price target of $120.00.

About Enveric Biosciences

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.