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

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 46,331 shares, a growth of 74.3% from the May 31st total of 26,583 shares. Based on an average daily volume of 270,136 shares, the short-interest ratio is currently 0.2 days. Approximately 1.3% of the shares of the stock are short sold.

Enveric Biosciences Stock Performance

ENVB traded down $0.08 during midday trading on Thursday, reaching $1.42. 90,175 shares of the company were exchanged, compared to its average volume of 2,122,972. The stock has a market capitalization of $5.23 million, a P/E ratio of -0.06 and a beta of 1.15. Enveric Biosciences has a one year low of $1.26 and a one year high of $17.64. The stock’s 50-day simple moving average is $2.37 and its 200 day simple moving average is $2.75.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENVB. Wall Street Zen downgraded Enveric Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About Enveric Biosciences

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.