Enveric Biosciences, Inc. (NASDAQ:ENVB) Sees Large Increase in Short Interest

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 118,369 shares, a growth of 90.8% from the February 12th total of 62,034 shares. Based on an average trading volume of 2,015,884 shares, the short-interest ratio is presently 0.1 days. Currently, 8.6% of the shares of the company are sold short. Currently, 8.6% of the shares of the company are sold short. Based on an average trading volume of 2,015,884 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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 Sell rating, According to data from MarketBeat.com, Enveric Biosciences currently has a consensus rating of “Sell”.

Enveric Biosciences Stock Performance

Shares of NASDAQ:ENVB traded down $0.02 during midday trading on Friday, reaching $1.90. 22,431 shares of the company’s stock were exchanged, compared to its average volume of 997,930. The company’s 50 day simple moving average is $2.91 and its two-hundred day simple moving average is $5.95. Enveric Biosciences has a 12 month low of $1.82 and a 12 month high of $22.20. The firm has a market capitalization of $2.64 million, a PE ratio of -0.05 and a beta of 0.31.

Institutional Investors Weigh In On Enveric Biosciences

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

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.