Enveric Biosciences, Inc. (NASDAQ:ENVB) Stock Short Interest Climbs 77.7%

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 22,872 shares, an increase 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 presently 0.5 days. Currently, 0.5% of the company’s stock are sold short.

Analysts Set New Price Targets

ENVB has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Friday, July 17th. Wall Street Zen upgraded Enveric Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Enveric Biosciences Price Performance

Enveric Biosciences stock traded down $0.02 during mid-day trading on Tuesday, reaching $1.45. 45,756 shares of the company traded hands, compared to its average volume of 1,461,637. The firm’s fifty day moving average is $1.46 and its two-hundred day moving average is $1.89. The company has a market capitalization of $6.50 million, a price-to-earnings ratio of -0.11 and a beta of 1.11. Enveric Biosciences has a fifty-two week low of $1.17 and a fifty-two week high of $13.25.

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

Enveric Biosciences Company Profile

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.