Enveric Biosciences, Inc. (NASDAQ:ENVB) Stock Short Interest Climbs 77.7%

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 22,872 shares, an increase of 77.7% from the August 31st total of 12,873 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 44,964 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

ENVB has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Friday, July 17th. Wall Street Zen upgraded Enveric Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Enveric Biosciences has a consensus rating of “Sell”.

Enveric Biosciences Trading Down 1.4%

Shares of NASDAQ:ENVB traded down $0.02 on Tuesday, reaching $1.45. The company had a trading volume of 45,756 shares, compared to its average volume of 1,461,637. The firm has a market capitalization of $6.50 million, a PE ratio of -0.11 and a beta of 1.11. Enveric Biosciences has a 52-week low of $1.17 and a 52-week high of $13.25. The firm’s 50 day simple moving average is $1.46 and its 200-day simple moving average is $1.89.

Enveric Biosciences (NASDAQ:ENVB) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.76) earnings per share for the quarter.

About Enveric Biosciences

Enveric Biosciences, Inc is a biotechnology company focused on developing novel therapeutics for mental health and neurological disorders. The company’s research platform is centered on neuroplastogenic compounds, including synthetic molecules inspired by psychedelic medicines, with the goal of addressing conditions such as depression, anxiety and addiction.

Enveric’s pipeline has included EB-373, an investigational synthetic prodrug of psilocin designed for potential use in treating mental health conditions.