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

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 15,675 shares, a decline of 66.2% from the June 15th total of 46,331 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 142,701 shares, the short-interest ratio is presently 0.1 days.

Enveric Biosciences Stock Down 0.8%

ENVB traded down $0.01 during midday trading on Tuesday, hitting $1.30. 34,133 shares of the company traded hands, compared to its average volume of 2,014,150. The company’s 50-day moving average is $1.89 and its 200 day moving average is $2.54. The firm has a market capitalization of $4.78 million, a PE ratio of -0.06 and a beta of 1.15. Enveric Biosciences has a 52 week low of $1.26 and a 52 week high of $17.64.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Enveric Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

About Enveric Biosciences

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.