Enveric Biosciences (NASDAQ:ENVB) Shares to Reverse Split on Tuesday, October 28th

Shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) are going to reverse split before the market opens on Tuesday, October 28th. The 1-12 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, October 27th.

Enveric Biosciences Price Performance

Shares of Enveric Biosciences stock opened at $0.61 on Friday. The business has a 50 day simple moving average of $0.87 and a two-hundred day simple moving average of $1.12. Enveric Biosciences has a 12 month low of $0.56 and a 12 month high of $8.25. The stock has a market capitalization of $3.81 million, a P/E ratio of -0.02 and a beta of 0.60.

Enveric Biosciences (NASDAQ:ENVB) last announced its earnings results on Thursday, August 14th. The company reported ($0.97) EPS for the quarter, beating analysts’ consensus estimates of ($5.25) by $4.28. As a group, research analysts anticipate that Enveric Biosciences will post -31.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC increased its holdings in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 103,679 shares of the company’s stock after acquiring an additional 13,355 shares during the period. AdvisorShares Investments LLC owned approximately 4.20% of Enveric Biosciences worth $125,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.82% of the company’s stock.

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.