Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Update

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 150,400 shares, a growth of 58.1% from the February 29th total of 95,100 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average trading volume of 4,190,000 shares, the short-interest ratio is currently 0.0 days.

Enveric Biosciences Price Performance

Shares of ENVB stock traded down $0.02 during trading hours on Friday, hitting $1.00. 268,386 shares of the company’s stock traded hands, compared to its average volume of 12,631,842. Enveric Biosciences has a 12 month low of $0.65 and a 12 month high of $6.98. The stock’s 50 day simple moving average is $1.02 and its 200 day simple moving average is $1.48.

Hedge Funds Weigh In On Enveric Biosciences

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Enveric Biosciences by 259.2% during the first quarter. Renaissance Technologies LLC now owns 1,990,600 shares of the company’s stock worth $657,000 after buying an additional 1,436,500 shares during the last quarter. Virtu Financial LLC raised its stake in Enveric Biosciences by 96.3% during the first quarter. Virtu Financial LLC now owns 276,184 shares of the company’s stock worth $91,000 after buying an additional 135,474 shares during the last quarter. Armistice Capital LLC bought a new position in Enveric Biosciences during the fourth quarter worth $355,000. Millennium Management LLC bought a new position in Enveric Biosciences during the second quarter worth $49,000. Finally, AdvisorShares Investments LLC grew its holdings in Enveric Biosciences by 46.2% in the third quarter. AdvisorShares Investments LLC now owns 146,833 shares of the company’s stock worth $339,000 after purchasing an additional 46,404 shares during the period. Institutional investors own 13.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Enveric Biosciences in a research note on Tuesday, January 30th.

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 program is EB-373, an active metabolite of psilocybin, which is in Phase 1 clinical trials for the treatment of anxiety disorders; EVM-301 for treating mental health; and EV104 CBD + Celecoxib conjugate for treating osteoarthritis.