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

Enveric Biosciences, Inc. (NASDAQ:ENVB – Get Free Report) saw a large decrease in short interest in 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. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 194,765 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ENVB shares. Wall Street Zen raised shares of Enveric Biosciences to a “sell” rating in a report on Saturday, May 23rd. 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, According to MarketBeat, Enveric Biosciences presently has a consensus rating of “Sell”.

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Enveric Biosciences Trading Down 8.6%

NASDAQ:ENVB opened at $1.60 on Wednesday. Enveric Biosciences has a 12-month low of $1.60 and a 12-month high of $17.64. The stock has a 50-day moving average price of $2.60 and a 200 day moving average price of $3.29. The stock has a market capitalization of $5.89 million, a P/E ratio of -0.07 and a beta of 1.11.

Enveric Biosciences (NASDAQ:ENVB – Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($1.08) earnings per share (EPS) for the quarter.

Enveric Biosciences Company Profile

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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.

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