Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Down 20.6% in March

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 93,975 shares, a decrease of 20.6% from the February 26th total of 118,369 shares. Based on an average trading volume of 52,567 shares, the days-to-cover ratio is currently 1.8 days. Currently, 6.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC lifted its holdings in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 96.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 203,679 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. AdvisorShares Investments LLC owned 39.32% of Enveric Biosciences worth $130,000 at the end of the most recent quarter. 13.82% of the stock is currently owned by hedge funds and other institutional investors.

Enveric Biosciences Stock Performance

Shares of Enveric Biosciences stock opened at $1.88 on Monday. The stock has a 50 day moving average of $2.50 and a 200 day moving average of $5.06. Enveric Biosciences has a 12 month low of $1.82 and a 12 month high of $19.20. The firm has a market cap of $2.61 million, a PE ratio of -0.05 and a beta of 0.31.

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.