Ensysce Biosciences, Inc. (NASDAQ:ENSC) Sees Significant Decrease in Short Interest

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 191,291 shares, a decline 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. Currently, 1.3% of the company’s stock are sold short.

Ensysce Biosciences Price Performance

Shares of NASDAQ ENSC traded up $0.05 during mid-day trading on Friday, reaching $0.40. 18,472,169 shares of the company’s stock traded hands, compared to its average volume of 42,097,140. The stock has a market cap of $6.15 million, a P/E ratio of -0.14 and a beta of 0.84. The business has a 50-day simple moving average of $0.30 and a 200 day simple moving average of $0.41. Ensysce Biosciences has a 1-year low of $0.23 and a 1-year high of $2.75.

Ensysce Biosciences (NASDAQ:ENSC) last posted its earnings results on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.30. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 1,225.23%. The company had revenue of $1.16 million during the quarter, compared to the consensus estimate of $1.20 million. Equities research analysts anticipate that Ensysce Biosciences will post -1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen upgraded Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted 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 valued at $138,000 after buying an additional 75,000 shares during the last quarter. 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 buying an additional 29,336 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Ensysce Biosciences in the 3rd quarter valued at $34,000. Finally, Virtu Financial LLC bought a new position in Ensysce Biosciences during the 3rd quarter valued at $34,000. Institutional investors own 5.63% of the company’s stock.

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.