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

Enveric Biosciences, Inc. (NASDAQ:ENVB)’s share price shot up 1.1% during trading on Monday . The stock traded as high as $0.48 and last traded at $0.48. 265,195 shares traded hands during 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 Trading Up 1.1 %

The firm has a 50-day moving average of $0.48 and a 200 day moving average of $0.59. The stock has a market capitalization of $4.26 million, a price-to-earnings ratio of -0.13 and a beta of 0.72.

Enveric Biosciences (NASDAQ:ENVB) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.30. As a group, research analysts forecast that Enveric Biosciences, Inc. will post -2.08 EPS for the current year.

Hedge Funds Weigh In On Enveric Biosciences

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