Bob Gower Acquires 508,614 Shares of Ensysce Biosciences (NASDAQ:ENSC) Stock

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower acquired 508,614 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average price of $0.48 per share, with a total value of $244,134.72. Following the acquisition, the director owned 516,740 shares in the company, valued at $248,035.20. This trade represents a 6,259.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ensysce Biosciences Trading Down 5.8%

NASDAQ ENSC opened at $0.38 on Tuesday. The stock has a market cap of $5.79 million, a PE ratio of -0.14 and a beta of 0.84. Ensysce Biosciences, Inc. has a 12 month low of $0.23 and a 12 month high of $2.75. The company’s 50-day moving average price is $0.30 and its 200-day moving average price is $0.40.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $1.16 million during the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Ensysce Biosciences, Inc. will post -1.27 earnings per share for the current year.

Institutional Investors Weigh In On Ensysce Biosciences

Large investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. raised its position in shares of Ensysce Biosciences by 100.4% in 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 boosted its position 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 last quarter. Citadel Advisors LLC acquired a new position in Ensysce Biosciences during the third quarter worth about $34,000. Finally, Virtu Financial LLC purchased a new stake in Ensysce Biosciences during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 5.63% of the company’s stock.

Wall Street Analysts Forecast Growth

ENSC has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Friday, July 17th. Wall Street Zen raised Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Ensysce Biosciences currently has an average 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.