Enveric Biosciences (NASDAQ:ENVB) Stock Price Down 4.6% – Should You Sell?

Shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) were down 4.6% during trading on Monday . The company traded as low as $0.31 and last traded at $0.31. Approximately 153,114 shares were traded during trading, a decline of 91% from the average daily volume of 1,659,062 shares. The stock had previously closed at $0.33.

Enveric Biosciences Stock Performance

The business’s 50 day moving average price is $0.41 and its two-hundred day moving average price is $0.49. The company has a market capitalization of $3.15 million, a price-to-earnings ratio of -0.12 and a beta of 0.68.

Institutional Trading of Enveric Biosciences

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC increased its position in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 32.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 317,047 shares of the company’s stock after acquiring an additional 78,214 shares during the period. AdvisorShares Investments LLC owned approximately 3.99% of Enveric Biosciences worth $190,000 at the end of the most recent quarter. 13.82% of the stock is currently owned by institutional investors.

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.