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

Enveric Biosciences, Inc. (NASDAQ:ENVB) saw a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 26,583 shares, a decrease of 77.1% from the May 14th total of 115,974 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 194,765 shares, the short-interest ratio is currently 0.1 days.

Enveric Biosciences Stock Down 7.8%

Shares of ENVB traded down $0.13 during mid-day trading on Friday, hitting $1.53. The company’s stock had a trading volume of 1,782,154 shares, compared to its average volume of 150,009. Enveric Biosciences has a one year low of $1.50 and a one year high of $17.64. The stock’s 50-day moving average is $2.59 and its two-hundred day moving average is $3.23.

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

Wall Street Analysts Forecast Growth

ENVB has been the topic of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a research note on Tuesday, April 21st. Wall Street Zen raised Enveric Biosciences to a “sell” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Enveric Biosciences currently has a consensus 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.