Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Down 45.0% in December

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 62,720 shares, a decline of 45.0% from the December 15th total of 114,023 shares. Based on an average trading volume of 83,609 shares, the days-to-cover ratio is presently 0.8 days. Currently, 10.6% of the shares of the company are sold short. Currently, 10.6% of the shares of the company are sold short. Based on an average trading volume of 83,609 shares, the days-to-cover ratio is presently 0.8 days.

Enveric Biosciences Trading Down 1.4%

ENVB stock traded down $0.06 during trading hours on Thursday, hitting $4.09. 35,908 shares of the stock traded hands, compared to its average volume of 44,173. The stock has a 50-day simple moving average of $5.23 and a 200 day simple moving average of $9.43. The company has a market cap of $2.45 million, a P/E ratio of -0.11 and a beta of 0.30. Enveric Biosciences has a one year low of $3.50 and a one year high of $66.78.

Enveric Biosciences (NASDAQ:ENVB) last issued its quarterly earnings results on Friday, November 14th. The company reported ($10.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($63.00) by $52.19. Analysts forecast that Enveric Biosciences will post -31.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ENVB. Wall Street Zen upgraded shares of Enveric Biosciences to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Enveric Biosciences currently has a consensus rating of “Hold” and a consensus price target of $120.00.

Institutional Investors Weigh In On Enveric Biosciences

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC grew its stake in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,679 shares of the company’s stock after purchasing an additional 13,355 shares during the period. AdvisorShares Investments LLC owned about 4.20% of Enveric Biosciences worth $125,000 as of its most recent SEC filing. 13.82% of the stock is currently owned by hedge funds and other institutional investors.

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.