Enveric Biosciences (NASDAQ:ENVB) Trading 3.8% Higher

Enveric Biosciences, Inc. (NASDAQ:ENVB – Get Rating)’s stock price traded up 3.8% during trading on Thursday . The company traded as high as $0.21 and last traded at $0.20. 888,401 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,323,948 shares. The stock had previously closed at $0.19.

A number of equities analysts have commented on the stock. Maxim Group reduced their price target on shares of Enveric Biosciences to $0.50 in a research report on Thursday, May 26th. Aegis lowered shares of Enveric Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th. Finally, Alliance Global Partners initiated coverage on shares of Enveric Biosciences in a research report on Wednesday, June 1st. They issued a “buy” rating and a $1.25 price target on the stock.

The stock’s 50-day moving average price is $0.23 and its 200-day moving average price is $0.47.

Enveric Biosciences (NASDAQ:ENVB – Get Rating) last announced its earnings results on Thursday, March 31st. The company reported ($0.14) earnings per share (EPS) for the quarter. On average, equities research analysts expect that Enveric Biosciences, Inc. will post -0.3 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC bought a new stake in shares of Enveric Biosciences during the third quarter worth approximately $27,000. UBS Group AG raised its stake in shares of 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 buying an additional 83,938 shares during the last quarter. Virtu Financial LLC raised its stake in shares of Enveric Biosciences by 96.3% during the first quarter. Virtu Financial LLC now owns 276,184 shares of the company’s stock worth $91,000 after buying an additional 135,474 shares during the last quarter. AdvisorShares Investments LLC raised its stake in shares of Enveric Biosciences by 740.5% during the fourth quarter. AdvisorShares Investments LLC now owns 300,524 shares of the company’s stock worth $279,000 after buying an additional 264,770 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Enveric Biosciences during the fourth quarter worth approximately $365,000. 9.60% of the stock is owned by institutional investors and hedge funds.

Enveric Biosciences Company Profile (NASDAQ:ENVB)

Enveric Biosciences, Inc, a pharmaceutical company, engages in developing various cannabinoid medicines for cancer care. Its products pipeline includes EV104 for the treatment of osteoarthritis; EVM-101 and EVM-201 for the treatment of cancer related distress; EVM-301 for the treatment of mental health indication; EV102, a cannabinoid cream for topical skin application; and EV101, a cannabinoid and chemotherapy combination therapy.

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