Ensysce Biosciences, Inc. (NASDAQ:ENSC – Get Free Report) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 1,140,145 shares, a growth of 496.0% from the July 30th total of 191,291 shares. Based on an average daily volume of 84,955,912 shares, the short-interest ratio is currently 0.0 days. Currently, 6.0% of the shares of the company are short sold.
Insider Transactions at Ensysce Biosciences
In other Ensysce Biosciences news, Director Bob G. Gower acquired 400,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $0.49 per share, for a total transaction of $196,000.00. Following the completion of the purchase, the director owned 916,740 shares in the company, valued at $449,202.60. This trade represents a 77.41% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.
Hedge Funds Weigh In On Ensysce Biosciences
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Ensysce Biosciences during the 3rd quarter worth approximately $34,000. Citadel Advisors LLC purchased a new stake in shares of Ensysce Biosciences in the third quarter valued at approximately $34,000. DRW Securities LLC grew its holdings in Ensysce Biosciences by 42.4% during the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after acquiring an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Ensysce Biosciences by 100.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after acquiring an additional 75,000 shares during the period. Institutional investors and hedge funds own 5.63% of the company’s stock.
Ensysce Biosciences Stock Performance
Ensysce Biosciences (NASDAQ:ENSC – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. As a group, equities analysts predict that Ensysce Biosciences will post -1.09 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ENSC. Wall Street Zen upgraded Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.
Check Out Our Latest Analysis on Ensysce Biosciences
Ensysce Biosciences Company Profile
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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