Enveric Biosciences, Inc. (NASDAQ:ENVB) Short Interest Up 351.4% in February

Enveric Biosciences, Inc. (NASDAQ:ENVB) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,240,000 shares, an increase of 351.4% from the February 13th total of 274,700 shares. Based on an average trading volume of 2,650,000 shares, the short-interest ratio is presently 0.5 days. Currently, 77.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Enveric Biosciences in a research report on Thursday, March 6th.

Enveric Biosciences Trading Down 5.3 %

NASDAQ ENVB traded down $0.09 on Wednesday, reaching $1.61. 65,513 shares of the stock were exchanged, compared to its average volume of 3,668,922. The company’s 50-day simple moving average is $3.37 and its two-hundred day simple moving average is $5.36. The firm has a market capitalization of $1.09 million, a PE ratio of -0.04 and a beta of 0.47. Enveric Biosciences has a one year low of $1.13 and a one year high of $28.05.

Institutional Investors Weigh In On Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC increased its holdings in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 63.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,854 shares of the company’s stock after purchasing an additional 232,807 shares during the period. AdvisorShares Investments LLC owned 88.21% of Enveric Biosciences worth $215,000 as of its most recent SEC filing. 13.82% of the stock is owned by institutional investors.

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.