Enveric Biosciences (NASDAQ:ENVB) Trading 1.1% Higher – Time to Buy?

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

Enveric Biosciences Stock Performance

The company has a market cap of $4.26 million, a PE ratio of -0.13 and a beta of 0.72. The firm has a fifty day simple moving average of $0.48 and a 200 day simple moving average of $0.59.

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

Institutional Trading of Enveric Biosciences

A hedge fund recently bought a new stake in Enveric Biosciences stock. Virtu Financial LLC bought a new position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 33,835 shares of the company’s stock, valued at approximately $34,000. Virtu Financial LLC owned 0.44% of Enveric Biosciences as of its most recent filing with the SEC. 13.82% of the stock is currently owned by institutional investors and hedge funds.

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.