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

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 886,509 shares, a growth of 1,306.6% from the April 15th total of 63,023 shares. Approximately 45.8% of the shares of the stock are sold short. Based on an average trading volume of 20,588,013 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Trading of Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC increased its position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 96.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period. 13.82% of the stock is owned by hedge funds and other institutional investors.

Enveric Biosciences Price Performance

Shares of Enveric Biosciences stock opened at $2.81 on Tuesday. Enveric Biosciences has a fifty-two week low of $1.71 and a fifty-two week high of $17.84. The firm has a market capitalization of $5.58 million, a P/E ratio of -0.08 and a beta of 1.24. The company’s 50 day moving average price is $2.54 and its two-hundred day moving average price is $3.91.

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.