Ensysce Biosciences, Inc. (NASDAQ:ENSC) Sees Large Decline in Short Interest

Ensysce Biosciences, Inc. (NASDAQ:ENSCGet Free Report) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 191,291 shares, a decrease of 52.6% from the July 15th total of 403,334 shares. Based on an average daily trading volume, of 244,582 shares, the short-interest ratio is presently 0.8 days. Approximately 1.3% of the shares of the company are short sold.

Ensysce Biosciences Stock Performance

Shares of ENSC traded up $0.05 during midday trading on Friday, hitting $0.40. 18,472,169 shares of the stock traded hands, compared to its average volume of 42,097,140. Ensysce Biosciences has a 1-year low of $0.23 and a 1-year high of $2.75. The firm has a market capitalization of $6.14 million, a PE ratio of -0.14 and a beta of 0.84. The business’s 50 day moving average price is $0.30 and its two-hundred day moving average price is $0.41.

Ensysce Biosciences (NASDAQ:ENSCGet Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 1,225.23%. As a group, equities research analysts forecast that Ensysce Biosciences will post -1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Ensysce Biosciences

Large investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences during the third quarter worth approximately $34,000. Virtu Financial LLC bought a new position in Ensysce Biosciences in the 3rd quarter worth approximately $34,000. DRW Securities LLC increased its position in Ensysce Biosciences by 42.4% in the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after acquiring an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in Ensysce Biosciences by 100.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock valued at $138,000 after acquiring an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 5.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Friday, July 17th. Wall Street Zen raised Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Check Out Our Latest Research Report on ENSC

Ensysce Biosciences Company Profile

(Get Free Report)

Ensysce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel prodrug therapies aimed at improving pain management and addressing opioid misuse. Leveraging its proprietary prodrug platform, the company designs drug candidates that convert into active pharmaceuticals through specific enzymatic action, providing controlled-release profiles and built-in abuse deterrence features.

The company’s lead product candidate, ENS100, is an investigational oral prodrug of hydrocodone engineered to reduce the potential for misuse and abuse compared to immediate-release opioid formulations.

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