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

Enveric Biosciences, Inc. (NASDAQ:ENVBGet Rating) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 3,400,000 shares, an increase of 165.6% from the April 15th total of 1,280,000 shares. Based on an average daily trading volume, of 3,460,000 shares, the short-interest ratio is currently 1.0 days.

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Enveric Biosciences during the 4th quarter worth $365,000. Vident Investment Advisory LLC purchased a new position in shares of Enveric Biosciences in the 3rd quarter valued at about $52,000. Scotia Capital Inc. purchased a new position in shares of Enveric Biosciences in the 3rd quarter valued at about $195,000. Geode Capital Management LLC increased its holdings in shares of Enveric Biosciences by 44.5% in the 4th quarter. Geode Capital Management LLC now owns 166,537 shares of the company’s stock valued at $154,000 after purchasing an additional 51,275 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in shares of Enveric Biosciences by 158.4% in the 4th quarter. Virtu Financial LLC now owns 140,710 shares of the company’s stock valued at $131,000 after purchasing an additional 86,253 shares in the last quarter. Institutional investors own 9.60% of the company’s stock.

ENVB has been the subject of several research analyst reports. Zacks Investment Research cut shares of Enveric Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday. Aegis downgraded shares of Enveric Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th.

ENVB stock opened at $0.18 on Thursday. The company has a fifty day moving average price of $0.29 and a 200 day moving average price of $0.78. Enveric Biosciences has a 12 month low of $0.18 and a 12 month high of $3.74.

Enveric Biosciences (NASDAQ:ENVBGet Rating) last released its quarterly earnings results on Thursday, March 31st. The company reported ($0.14) EPS for the quarter. On average, equities research analysts forecast that Enveric Biosciences will post -0.3 earnings per share for the current fiscal year.

About Enveric Biosciences (Get Rating)

Enveric Biosciences, Inc, a pharmaceutical company, engages in developing various cannabinoid medicines for cancer care. It has a pipeline of development programs for radiodermatitis, glioblastoma multiforme, pruritus, rashes, and dry skin and chemotherapy-induced neuropathy. The company is headquartered in Naples, Florida.

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