Enveric Biosciences (NASDAQ:ENVB) Shares Down 0.3% – Here’s What Happened

Enveric Biosciences, Inc. (NASDAQ:ENVB)’s stock price dropped 0.3% on Monday . The company traded as low as $5.62 and last traded at $5.72. Approximately 6,416 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 92,779 shares. The stock had previously closed at $5.74.

Analysts Set New Price Targets

ENVB has been the topic of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Enveric Biosciences to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Enveric Biosciences currently has an average rating of “Hold” and a consensus target price of $120.00.

Enveric Biosciences Stock Performance

The company has a market capitalization of $3.41 million, a PE ratio of -0.15 and a beta of 0.58. The firm’s 50-day simple moving average is $7.06 and its 200 day simple moving average is $11.68.

Enveric Biosciences (NASDAQ:ENVB) last announced its quarterly earnings results on Friday, November 14th. The company reported ($10.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($63.00) by $52.19. As a group, equities analysts anticipate that Enveric Biosciences, Inc. will post -31.18 earnings per share for the current year.

Institutional Investors Weigh In On Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC lifted its position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,679 shares of the company’s stock after buying an additional 13,355 shares during the quarter. AdvisorShares Investments LLC owned approximately 4.20% of Enveric Biosciences worth $125,000 at the end of the most recent quarter. Institutional investors own 13.82% of the company’s stock.

Enveric Biosciences Company Profile

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.