Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Down 86.9% in May

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a large decline in short interest in May. As of May 15th, there was short interest totaling 115,974 shares, a decline of 86.9% from the April 30th total of 886,509 shares. Based on an average daily volume of 402,818 shares, the short-interest ratio is presently 0.3 days. Approximately 3.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several analysts have recently issued reports on ENVB shares. Wall Street Zen raised Enveric Biosciences to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Enveric Biosciences currently has a consensus rating of “Sell”.

Institutional Trading of Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its stake in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 96.5% during the 3rd quarter, according to its most recent 13F filing with the 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 approximately 39.32% of Enveric Biosciences worth $130,000 at the end of the most recent quarter. Institutional investors and hedge funds own 13.82% of the company’s stock.

Enveric Biosciences Stock Performance

Shares of ENVB traded down $0.02 during mid-day trading on Friday, hitting $2.30. 97,493 shares of the stock were exchanged, compared to its average volume of 312,315. The company has a market cap of $8.46 million, a PE ratio of -0.10 and a beta of 1.24. Enveric Biosciences has a 52-week low of $1.71 and a 52-week high of $17.64. The firm has a 50-day moving average of $2.60 and a two-hundred day moving average of $3.49.

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

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.