Enveric Biosciences (NASDAQ:ENVB) Shares Up 8%

Enveric Biosciences, Inc. (NASDAQ:ENVB)’s share price shot up 8% during mid-day trading on Friday . The company traded as high as $0.57 and last traded at $0.57. 439,422 shares traded hands during trading, a decline of 82% from the average session volume of 2,497,775 shares. The stock had previously closed at $0.53.

Enveric Biosciences Stock Performance

The business’s 50 day moving average price is $0.61 and its two-hundred day moving average price is $0.85. The company has a market capitalization of $4.53 million, a price-to-earnings ratio of -0.09 and a beta of 0.74.

Enveric Biosciences (NASDAQ:ENVB) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.61) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.61). On average, sell-side analysts expect that Enveric Biosciences, Inc. will post -1.98 earnings per share for the current year.

Institutional Trading of Enveric Biosciences

An institutional investor recently bought a new position in Enveric Biosciences stock. Armistice Capital LLC bought a new stake in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 273,000 shares of the company’s stock, valued at approximately $355,000. Armistice Capital LLC owned about 9.96% of Enveric Biosciences at the end of the most recent reporting period. 13.82% of the stock is currently owned by institutional investors.

About Enveric Biosciences

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.