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

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

Hedge Funds Weigh In On Ensysce Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Ensysce Biosciences during the 3rd quarter valued at $34,000. Citadel Advisors LLC acquired a new stake in shares of Ensysce Biosciences during the 3rd quarter worth $34,000. DRW Securities LLC increased its position in shares of 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 purchasing an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in 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 purchasing an additional 75,000 shares in the last quarter. Institutional investors own 5.63% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Ensysce Biosciences presently has a consensus rating of “Sell”.

Ensysce Biosciences Stock Down 2.4%

NASDAQ ENSC opened at $0.30 on Thursday. The company has a market capitalization of $4.41 million, a P/E ratio of -0.09 and a beta of 0.87. Ensysce Biosciences has a 12-month low of $0.23 and a 12-month high of $2.75. The firm has a 50-day moving average price of $0.45 and a two-hundred day moving average price of $0.82.

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

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.