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

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 26,583 shares, a decline of 77.1% from the May 14th total of 115,974 shares. Based on an average daily volume of 194,765 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ENVB. Wall Street Zen raised Enveric Biosciences to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Enveric Biosciences Stock Down 8.6%

Enveric Biosciences stock opened at $1.60 on Wednesday. The company has a market cap of $5.89 million, a price-to-earnings ratio of -0.07 and a beta of 1.11. The firm’s fifty day moving average is $2.60 and its 200 day moving average is $3.29. Enveric Biosciences has a 52-week low of $1.60 and a 52-week high of $17.64.

Enveric Biosciences (NASDAQ:ENVB) last released its quarterly earnings results on Friday, May 15th. The company reported ($1.08) earnings per share (EPS) for the quarter.

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.