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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 814,605 shares, a growth of 1,444.9% from the April 30th total of 52,730 shares. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,665,067 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Ensysce Biosciences Price Performance

Ensysce Biosciences stock traded down $0.01 during trading hours on Wednesday, hitting $0.30. The stock had a trading volume of 512,036 shares, compared to its average volume of 5,273,216. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.75. The business’s 50 day simple moving average is $0.45 and its 200-day simple moving average is $0.84.

Ensysce Biosciences (NASDAQ:ENSC) last posted its earnings results on Friday, May 15th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.21. The firm had revenue of $0.96 million during the quarter, compared to the consensus estimate of $1.00 million. Ensysce Biosciences had a negative return on equity of 766.45% and a negative net margin of 250.39%. Analysts expect that Ensysce Biosciences will post -1.98 EPS for the current year.

Hedge Funds Weigh In On Ensysce Biosciences

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of Ensysce Biosciences during the third quarter worth about $34,000. Citadel Advisors LLC bought a new position in shares of Ensysce Biosciences during the third quarter worth about $34,000. DRW Securities LLC raised its position in shares of 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 last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of 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 last quarter. 5.63% of the stock is currently owned by institutional investors.

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.