Short Interest in Enveric Biosciences, Inc. (NASDAQ:ENVB) Increases By 351.4%

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,240,000 shares, an increase of 351.4% from the February 13th total of 274,700 shares. Based on an average daily trading volume, of 2,650,000 shares, the short-interest ratio is presently 0.5 days. Approximately 77.5% of the company’s shares are sold short.

Enveric Biosciences Stock Performance

Shares of ENVB stock traded up $0.06 during trading on Friday, hitting $1.70. 39,626 shares of the company were exchanged, compared to its average volume of 3,520,671. The firm has a market capitalization of $1.15 million, a price-to-earnings ratio of -0.04 and a beta of 0.47. The business’s 50-day simple moving average is $3.30 and its 200 day simple moving average is $5.33. Enveric Biosciences has a twelve month low of $1.13 and a twelve month high of $28.05.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Enveric Biosciences in a research note on Thursday, March 6th.

Institutional Investors Weigh In On Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 63.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 599,854 shares of the company’s stock after purchasing an additional 232,807 shares during the period. AdvisorShares Investments LLC owned 88.21% of Enveric Biosciences worth $215,000 at the end of the most recent reporting period. 13.82% of the stock is currently owned by institutional investors.

Enveric Biosciences Company Profile

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 product candidates are EB-002, an active metabolite of psilocybin, which is in preclinical development stage for the treatment of anxiety disorders; and EB-003 that is in preclinical development stage for the treatment mental health.