Enveric Biosciences, Inc. (NASDAQ:ENVB) Sees Significant Increase in Short Interest

by · The Markets Daily

Enveric Biosciences, Inc. (NASDAQ:ENVB – Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 330,200 shares, a growth of 70.9% from the October 15th total of 193,200 shares. Based on an average trading volume of 486,400 shares, the days-to-cover ratio is presently 0.7 days. Currently, 4.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Enveric Biosciences

A hedge fund recently bought a new stake in Enveric Biosciences stock. Virtu Financial LLC purchased a new position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 33,835 shares of the company’s stock, valued at approximately $34,000. Virtu Financial LLC owned 0.44% of Enveric Biosciences at the end of the most recent quarter. Institutional investors own 13.82% of the company’s stock.

Enveric Biosciences Price Performance

NASDAQ:ENVB traded down $0.01 during mid-day trading on Thursday, reaching $0.40. The stock had a trading volume of 250,329 shares, compared to its average volume of 1,834,335. The stock’s 50 day simple moving average is $0.47 and its two-hundred day simple moving average is $0.59. Enveric Biosciences has a 1-year low of $0.36 and a 1-year high of $2.92. The company has a market capitalization of $3.54 million, a price-to-earnings ratio of -0.11 and a beta of 0.72.

Enveric Biosciences (NASDAQ:ENVB – Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.30. Sell-side analysts anticipate that Enveric Biosciences will post -2.08 EPS for the current fiscal year.

About Enveric Biosciences

(Get Free Report)

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.

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