Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Update

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 326,647 shares, an increase of 92.9% from the February 12th total of 169,352 shares. Based on an average daily trading volume, of 35,332,117 shares, the short-interest ratio is currently 0.0 days. Approximately 9.3% of the company’s stock are sold short. Approximately 9.3% of the company’s stock are sold short. Based on an average daily trading volume, of 35,332,117 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Ensysce Biosciences Trading Down 6.2%

NASDAQ:ENSC traded down $0.03 during trading hours on Friday, reaching $0.41. 280,796 shares of the company traded hands, compared to its average volume of 7,354,875. The business’s 50-day moving average price is $0.66 and its two-hundred day moving average price is $1.48. Ensysce Biosciences has a 1 year low of $0.31 and a 1 year high of $4.85. The stock has a market capitalization of $1.48 million, a P/E ratio of -0.06 and a beta of 1.14.

Hedge Funds Weigh In On Ensysce Biosciences

A number of hedge funds have recently bought and sold shares of ENSC. Adage Capital Partners GP L.L.C. grew its position 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 purchasing an additional 75,000 shares during the last quarter. DRW Securities LLC raised its holdings in Ensysce Biosciences by 42.4% in the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after buying an additional 29,336 shares during the last quarter. Citadel Advisors LLC purchased a new position in Ensysce Biosciences in the third quarter worth about $34,000. Virtu Financial LLC bought a new position in shares of Ensysce Biosciences in the third quarter worth approximately $34,000. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter valued at approximately $25,000. Institutional investors own 5.63% of the company’s stock.

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.