Enveric Biosciences (NASDAQ:ENVB) Trading Down 13.9% – Time to Sell?

Enveric Biosciences, Inc. (NASDAQ:ENVB)’s stock price was down 13.9% during trading on Tuesday . The stock traded as low as $1.13 and last traded at $1.18. Approximately 6,025,608 shares were traded during trading, an increase of 1,068% from the average daily volume of 515,739 shares. The stock had previously closed at $1.37.

Enveric Biosciences Price Performance

The stock has a market cap of $800,040.00, a P/E ratio of -0.03 and a beta of 0.55. The company has a fifty day moving average of $3.92 and a 200 day moving average of $5.76.

Institutional Investors Weigh In On Enveric Biosciences

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC raised its stake in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 63.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 599,854 shares of the company’s stock after buying an additional 232,807 shares during the period. AdvisorShares Investments LLC owned approximately 88.21% of Enveric Biosciences worth $215,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 13.82% of the company’s stock.

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.