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

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 26,583 shares, a decrease of 77.1% from the May 14th total of 115,974 shares. Based on an average trading volume of 194,765 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.7% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research firms have recently commented on ENVB. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Tuesday, April 21st. Wall Street Zen upgraded Enveric Biosciences to a “sell” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Enveric Biosciences Stock Up 2.5%

NASDAQ:ENVB traded up $0.04 during mid-day trading on Thursday, reaching $1.66. 109,181 shares of the stock were exchanged, compared to its average volume of 2,356,480. The company has a 50 day simple moving average of $2.59 and a 200-day simple moving average of $3.26. The stock has a market capitalization of $6.11 million, a P/E ratio of -0.07 and a beta of 1.11. Enveric Biosciences has a 1 year low of $1.60 and a 1 year high of $17.64.

Enveric Biosciences (NASDAQ:ENVB) last released its quarterly earnings results 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.