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

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a large growth in short interest in September. As of September 15th, there was short interest totaling 22,872 shares, a growth of 77.7% from the August 31st total of 12,873 shares. Based on an average daily volume of 44,964 shares, the short-interest ratio is currently 0.5 days. Approximately 0.5% of the company’s shares are short sold.

Enveric Biosciences Trading Down 4.4%

Shares of NASDAQ:ENVB traded down $0.07 during trading on Thursday, reaching $1.42. 15,060 shares of the company traded hands, compared to its average volume of 1,446,474. Enveric Biosciences has a 52-week low of $1.17 and a 52-week high of $13.25. The firm has a market capitalization of $6.36 million, a price-to-earnings ratio of -0.11 and a beta of 1.11. The business’s fifty day moving average is $1.46 and its 200-day moving average is $1.89.

Enveric Biosciences (NASDAQ:ENVB) last issued its earnings results on Friday, August 14th. The company reported ($0.76) EPS for the quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Enveric Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

About Enveric Biosciences

Enveric Biosciences, Inc is a biotechnology company focused on developing novel therapeutics for mental health and neurological disorders. The company’s research platform is centered on neuroplastogenic compounds, including synthetic molecules inspired by psychedelic medicines, with the goal of addressing conditions such as depression, anxiety and addiction.

Enveric’s pipeline has included EB-373, an investigational synthetic prodrug of psilocin designed for potential use in treating mental health conditions.