Insider Buying: Ensysce Biosciences (NASDAQ:ENSC) Director Purchases $244,134.72 in Stock

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower bought 508,614 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average cost of $0.48 per share, for a total transaction of $244,134.72. Following the transaction, the director directly owned 516,740 shares in the company, valued at approximately $248,035.20. This represents a 6,259.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Ensysce Biosciences Price Performance

Shares of NASDAQ:ENSC opened at $0.38 on Friday. Ensysce Biosciences, Inc. has a 12 month low of $0.23 and a 12 month high of $2.75. The firm has a market capitalization of $7.35 million, a P/E ratio of -0.14 and a beta of 0.84. The company’s fifty day moving average price is $0.31 and its 200 day moving average price is $0.39.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). Ensysce Biosciences had a negative return on equity of 2,550.30% and a negative net margin of 280.53%.The company had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $1.20 million. On average, sell-side analysts anticipate that Ensysce Biosciences, Inc. will post -1.09 EPS for the current year.

Institutional Trading of Ensysce Biosciences

A number of hedge funds have recently bought and sold shares of ENSC. Adage Capital Partners GP L.L.C. grew its holdings in Ensysce Biosciences by 100.4% in 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 buying an additional 75,000 shares during the period. DRW Securities LLC lifted its holdings in shares of Ensysce Biosciences by 42.4% during the 4th 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. Citadel Advisors LLC purchased a new position in shares of Ensysce Biosciences during the 3rd quarter worth about $34,000. Finally, Virtu Financial LLC acquired a new stake in shares of Ensysce Biosciences in the third quarter worth approximately $34,000. Institutional investors and hedge funds own 5.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ENSC. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Friday, July 17th. Wall Street Zen upgraded Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Ensysce Biosciences presently has a consensus rating of “Sell”.

About Ensysce Biosciences

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.