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

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 15,675 shares, a drop of 66.2% from the June 15th total of 46,331 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 142,701 shares, the short-interest ratio is currently 0.1 days.

Enveric Biosciences Stock Up 1.2%

ENVB stock traded up $0.02 during midday trading on Wednesday, hitting $1.34. The company’s stock had a trading volume of 18,409 shares, compared to its average volume of 1,999,203. The firm has a 50-day simple moving average of $1.85 and a 200-day simple moving average of $2.52. The firm has a market capitalization of $4.92 million, a P/E ratio of -0.06 and a beta of 1.15. Enveric Biosciences has a 52-week low of $1.26 and a 52-week high of $17.64.

Enveric Biosciences (NASDAQ:ENVB) last posted its quarterly earnings data on Friday, May 15th. The company reported ($1.08) earnings per share for the quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ENVB shares. Wall Street Zen upgraded shares of Enveric Biosciences from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Enveric Biosciences currently has an average rating of “Sell”.

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.