Short Interest in Enveric Biosciences, Inc. (NASDAQ:ENVB) Rises By 74.3%

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a significant growth in short interest during the month of 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 presently 0.2 days. Currently, 1.3% of the company’s stock are sold short.

Enveric Biosciences Stock Performance

Shares of Enveric Biosciences stock traded down $0.08 on Thursday, reaching $1.42. 90,175 shares of the stock were exchanged, compared to its average volume of 2,122,972. The firm has a market cap of $5.23 million, a PE ratio of -0.06 and a beta of 1.15. The firm’s 50 day moving average is $2.37 and its 200-day moving average is $2.75. Enveric Biosciences has a one year low of $1.26 and a one year high of $17.64.

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

Wall Street Analysts Forecast Growth

ENVB has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a report on Tuesday, April 21st. Wall Street Zen lowered Enveric Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, 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.