Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Down 20.0% in February

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 62,034 shares, a drop of 20.0% from the January 29th total of 77,515 shares. Based on an average daily volume of 47,406 shares, the days-to-cover ratio is presently 1.3 days. Approximately 4.5% of the company’s stock are sold short. Approximately 4.5% of the company’s stock are sold short. Based on an average daily volume of 47,406 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of Enveric Biosciences

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC grew its holdings in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 96.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,679 shares of the company’s stock after buying an additional 100,000 shares during the period. AdvisorShares Investments LLC owned 39.32% of Enveric Biosciences worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 13.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ENVB. Wall Street Zen raised shares of Enveric Biosciences to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $120.00.

Enveric Biosciences Stock Down 5.3%

NASDAQ ENVB traded down $0.12 on Tuesday, hitting $2.13. 57,090 shares of the stock were exchanged, compared to its average volume of 519,322. Enveric Biosciences has a fifty-two week low of $1.96 and a fifty-two week high of $30.48. The company has a 50-day moving average price of $3.28 and a 200-day moving average price of $6.60. The company has a market cap of $2.96 million, a PE ratio of -0.06 and a beta of 0.30.

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.