Enveric Biosciences Inc. [ENVB] is -77.42% lower this YTD. Is it still time to buy?


Enveric Biosciences Inc. [NASDAQ: ENVB] traded at a high on 06/01/22, posting a 6.22 gain after which it closed the day’ session at $0.21. The company report on May 24, 2022 that Enveric Biosciences to Participate in the Microdose Psychedelic Capital Conference on May 26, 2022.

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Enveric Biosciences, Inc. (NASDAQ: ENVB) (“Enveric” or the “Company”), a neuroscience-focused biotechnology company developing next-generation, psychedelic-inspired mental health medicines, today announced that Avani Kanubaddi, President and Chief Operating Officer of Enveric, will participate virtually in Microdose’s Psychedelic Capital: May 2022 Conference to be held virtually on May 26, 2022.

Mr. Kanubaddi will participate on a panel “The Spinoffs – Divide and Conquer” on Thursday, May 26th at 4:05 p.m. ET. The panel will discuss the latest spinoffs among publicly traded companies to stay competitive, honor the shareholders and combat the markets. Register to attend here.

The results of the trading session contributed to over 4561341 shares changing hands. Over the past one week, the price volatility of Enveric Biosciences Inc. stands at 9.00% while the volatility over the past one month is 12.16%.

The market cap for ENVB stock reached $10.70 million, with 42.36 million shares outstanding. Compared to the average trading volume of 3.06M shares, ENVB reached a trading volume of 4561341 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Enveric Biosciences Inc. [ENVB]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENVB shares is $1.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENVB stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Enveric Biosciences Inc. is set at 0.02 The Price to Book ratio for the last quarter was 0.36, with the Price to Cash per share for the same quarter was set at 0.43.

How has ENVB stock performed recently?

Enveric Biosciences Inc. [ENVB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.14. With this latest performance, ENVB shares dropped by -20.93% in over the last four-week period, additionally sinking by -83.85% over the last 6 months – not to mention a drop of -90.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENVB stock in for the last two-week period is set at 44.83, with the RSI for the last a single of trading hit 48.46, and the three-weeks RSI is set at 42.45 for Enveric Biosciences Inc. [ENVB]. The present Moving Average for the last 50 days of trading for this stock 0.2664, while it was recorded at 0.2033 for the last single week of trading, and 1.0742 for the last 200 days.

Enveric Biosciences Inc. [ENVB]: Deeper insight into the fundamentals

Enveric Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.80 and a Current Ratio set at 10.80.

Insider trade positions for Enveric Biosciences Inc. [ENVB]

There are presently around $2 million, or 21.50% of ENVB stock, in the hands of institutional investors. The top three institutional holders of ENVB stocks are: HUDSON BAY CAPITAL MANAGEMENT LP with ownership of 4,774,900, which is approximately New of the company’s market cap and around 15.05% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 1,990,600 shares of the stock with an approximate value of $0.39 million in ENVB stocks shares; and ADVISORSHARES INVESTMENTS LLC, currently with $0.18 million in ENVB stock with ownership of nearly 206.921% of the company’s market capitalization.

14 institutional holders increased their position in Enveric Biosciences Inc. [NASDAQ:ENVB] by around 7,328,604 shares. Additionally, 15 investors decreased positions by around 1,161,416 shares, while 8 investors held positions by with 2,461,535 shares. The mentioned changes placed institutional holdings at 10,951,555 shares, according to the latest SEC report filing. ENVB stock had 6 new institutional investments in for a total of 4,869,437 shares, while 6 institutional investors sold positions of 875,819 shares during the same period.