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

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 150,400 shares, a growth of 58.1% from the February 29th total of 95,100 shares. Based on an average daily volume of 4,190,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 3.2% of the company’s stock are short sold.

Enveric Biosciences Stock Performance

ENVB stock traded down $0.02 during trading on Friday, hitting $1.00. 268,386 shares of the stock traded hands, compared to its average volume of 12,631,842. Enveric Biosciences has a 1 year low of $0.65 and a 1 year high of $6.98. The firm’s 50 day moving average is $1.02 and its two-hundred day moving average is $1.48.

Institutional Trading of Enveric Biosciences

Several institutional investors have recently bought and sold shares of ENVB. Citadel Advisors LLC purchased a new stake in shares of Enveric Biosciences during the 2nd quarter valued at about $47,000. Renaissance Technologies LLC purchased a new stake in shares of Enveric Biosciences during the 2nd quarter valued at about $58,000. AdvisorShares Investments LLC boosted its holdings in shares of Enveric Biosciences by 46.2% in the third quarter. AdvisorShares Investments LLC now owns 146,833 shares of the company’s stock worth $339,000 after buying an additional 46,404 shares during the last quarter. UBS Group AG boosted its holdings in shares of Enveric Biosciences by 601.0% in the first quarter. UBS Group AG now owns 97,904 shares of the company’s stock worth $32,000 after buying an additional 83,938 shares during the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of Enveric Biosciences by 96.3% in the first quarter. Virtu Financial LLC now owns 276,184 shares of the company’s stock worth $91,000 after buying an additional 135,474 shares during the last quarter. 13.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Enveric Biosciences in a research report on Tuesday, January 30th.

About Enveric Biosciences

Enveric Biosciences, Inc, a biotechnology company, engages in the development of small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders. Its lead program is EB-373, an active metabolite of psilocybin, which is in Phase 1 clinical trials for the treatment of anxiety disorders; EVM-301 for treating mental health; and EV104 CBD + Celecoxib conjugate for treating osteoarthritis.