Enveric Biosciences (NASDAQ:ENVB) Stock Price Up 1.1% – What’s Next?

Enveric Biosciences, Inc. (NASDAQ:ENVB) rose 1.1% during mid-day trading on Monday . The company traded as high as $0.48 and last traded at $0.48. Approximately 265,195 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,847,275 shares. The stock had previously closed at $0.47.

Enveric Biosciences Stock Down 7.8 %

The stock’s fifty day simple moving average is $0.48 and its 200-day simple moving average is $0.59.

Enveric Biosciences (NASDAQ:ENVB) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.30. As a group, sell-side analysts expect that Enveric Biosciences, Inc. will post -2.08 EPS for the current year.

Institutional Trading of Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 32.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 317,047 shares of the company’s stock after buying an additional 78,214 shares during the quarter. AdvisorShares Investments LLC owned approximately 3.99% of Enveric Biosciences worth $190,000 at the end of the most recent reporting period. Hedge funds and other 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.