Enveric Biosciences (NASDAQ:ENVB) Shares Up 5.9%

Shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) rose 5.9% during mid-day trading on Friday . The stock traded as high as $1.02 and last traded at $0.98. Approximately 203,914 shares traded hands during trading, a decline of 94% from the average daily volume of 3,225,290 shares. The stock had previously closed at $0.93.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Enveric Biosciences in a report on Tuesday, January 30th.

Enveric Biosciences Stock Up 5.9 %

The stock has a market cap of $7.14 million, a price-to-earnings ratio of -0.12 and a beta of 0.82. The stock has a fifty day moving average of $1.06 and a two-hundred day moving average of $1.25.

Enveric Biosciences (NASDAQ:ENVB) last issued its quarterly earnings data on Monday, March 25th. The company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.09. Equities research analysts anticipate that Enveric Biosciences, Inc. will post -1.98 EPS for the current fiscal year.

Institutional Trading of Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its position in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 46.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,833 shares of the company’s stock after buying an additional 46,404 shares during the quarter. AdvisorShares Investments LLC owned approximately 6.73% of Enveric Biosciences worth $339,000 at the end of the most recent quarter. 13.82% of the stock is currently owned by hedge funds and other institutional investors.

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.