Enveric Biosciences (NASDAQ:ENVB) Trading Down 8.7% – Should You Sell?

Enveric Biosciences, Inc. (NASDAQ:ENVB) fell 8.7% during mid-day trading on Thursday . The stock traded as low as $0.41 and last traded at $0.44. 438,698 shares changed hands during trading, a decline of 78% from the average session volume of 1,982,686 shares. The stock had previously closed at $0.48.

Enveric Biosciences Stock Performance

The firm has a market capitalization of $3.93 million, a price-to-earnings ratio of -0.12 and a beta of 0.73. The business has a fifty day moving average price of $0.49 and a 200 day moving average price of $0.65.

Enveric Biosciences (NASDAQ:ENVB) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.30. On average, analysts expect that Enveric Biosciences, Inc. will post -2.08 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Enveric Biosciences stock. Virtu Financial LLC acquired a new position in Enveric Biosciences, Inc. (NASDAQ:ENVB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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. Institutional investors and hedge funds 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.