Enveric Biosciences, Inc. (NASDAQ:ENVB) Sees Large Decrease in Short Interest

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 15,675 shares, a decrease of 66.2% from the June 15th total of 46,331 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 142,701 shares, the days-to-cover ratio is presently 0.1 days.

Enveric Biosciences Stock Performance

NASDAQ:ENVB opened at $1.35 on Monday. The business’s fifty day moving average is $1.94 and its 200 day moving average is $2.56. The firm has a market cap of $4.97 million, a price-to-earnings ratio of -0.06 and a beta of 1.15. Enveric Biosciences has a 52-week low of $1.26 and a 52-week high of $17.64.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ENVB shares. Wall Street Zen upgraded shares of Enveric Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “sell (e+)” rating on shares of Enveric Biosciences in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Enveric Biosciences Company Profile

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.