Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Down 80.6% in March

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 241,100 shares, a decrease of 80.6% from the February 28th total of 1,240,000 shares. Based on an average daily volume of 2,660,000 shares, the short-interest ratio is presently 0.1 days. Currently, 13.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Enveric Biosciences in a report on Thursday, March 6th.

Enveric Biosciences Stock Down 8.1 %

Enveric Biosciences stock traded down $0.13 during mid-day trading on Friday, hitting $1.47. 136,918 shares of the company were exchanged, compared to its average volume of 727,424. Enveric Biosciences has a 1-year low of $1.13 and a 1-year high of $17.85. The business has a fifty day moving average of $2.35 and a 200 day moving average of $4.89. The company has a market capitalization of $996,660.00, a PE ratio of -0.04 and a beta of 0.47.

Institutional Investors Weigh In On Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC raised its position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 63.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 599,854 shares of the company’s stock after buying an additional 232,807 shares during the period. AdvisorShares Investments LLC owned about 88.21% of Enveric Biosciences worth $215,000 as of its most recent filing with the Securities and Exchange Commission. 13.82% of the stock is currently owned by hedge funds and other institutional investors.

About Enveric Biosciences

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.