Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Down 25.8% in December

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 166,971 shares, a drop of 25.8% from the December 15th total of 225,167 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily trading volume, of 133,308 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 133,308 shares, the days-to-cover ratio is presently 1.3 days. Approximately 4.7% of the shares of the company are sold short.

Institutional Investors Weigh In On Ensysce Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences in the 3rd quarter worth approximately $34,000. Virtu Financial LLC acquired a new position in Ensysce Biosciences during the third quarter worth $34,000. Finally, TRU Independence Asset Management 2 LLC purchased a new position in shares of Ensysce Biosciences during the third quarter worth $25,000. Institutional investors and hedge funds own 5.63% of the company’s stock.

Ensysce Biosciences Trading Down 6.5%

Shares of ENSC traded down $0.06 during midday trading on Friday, reaching $0.84. 108,051 shares of the stock were exchanged, compared to its average volume of 104,386. The company’s 50 day moving average is $1.39 and its two-hundred day moving average is $1.91. The company has a market capitalization of $3.06 million, a P/E ratio of -0.13 and a beta of 1.15. Ensysce Biosciences has a 52 week low of $0.82 and a 52 week high of $8.97.

Ensysce Biosciences (NASDAQ:ENSC) last released its earnings results on Friday, November 14th. The company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.44). Ensysce Biosciences had a negative return on equity of 437.31% and a negative net margin of 244.47%.The company had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.70 million. On average, sell-side analysts expect that Ensysce Biosciences will post -8.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Wednesday, October 8th. Wall Street Zen raised Ensysce Biosciences to a “hold” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus 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.