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

Enveric Biosciences, Inc. (NASDAQ:ENVB) 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) 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) 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

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.