Enveric Biosciences, Inc. (NASDAQ:ENVB – Get Free Report) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 23,000 shares, a decline of 58.6% from the January 15th total of 55,600 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 95,600 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ENVB. UBS Group AG grew its holdings in Enveric Biosciences by 601.0% during the first quarter. UBS Group AG now owns 97,904 shares of the company’s stock worth $32,000 after acquiring an additional 83,938 shares during the period. Citadel Advisors LLC purchased a new position in Enveric Biosciences during the second quarter worth about $47,000. Millennium Management LLC purchased a new position in shares of Enveric Biosciences in the 2nd quarter worth about $49,000. Renaissance Technologies LLC purchased a new position in shares of Enveric Biosciences in the 2nd quarter worth about $58,000. Finally, Virtu Financial LLC raised its holdings in shares of Enveric Biosciences by 96.3% in the 1st quarter. Virtu Financial LLC now owns 276,184 shares of the company’s stock worth $91,000 after purchasing an additional 135,474 shares during the period. Institutional investors and hedge funds own 8.75% of the company’s stock.
Enveric Biosciences Price Performance
Shares of NASDAQ:ENVB traded up $0.04 during trading on Monday, reaching $0.81. The company had a trading volume of 98,110 shares, compared to its average volume of 157,720. The firm has a market capitalization of $2.22 million, a price-to-earnings ratio of -0.07 and a beta of 0.69. The stock’s fifty day moving average price is $1.18 and its 200 day moving average price is $1.77. Enveric Biosciences has a fifty-two week low of $0.65 and a fifty-two week high of $6.98.
Wall Street Analyst Weigh In
Separately, HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Enveric Biosciences in a report on Tuesday, January 30th.
About Enveric Biosciences
Enveric Biosciences, Inc develops cannabinoid medicines and combination therapies. It is a patient-centric biotechnology company endeavouring to enhance the lives of those who are adversely affected by the side effects of Cancer Treatments. The firm is testing natural compounds, starting with cannabinoids to provide patients and clinicians with novel prescription medicines to serve these unmet medical needs.
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