Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Down 93.8% in May

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 50,601 shares, a decrease of 93.8% from the May 14th total of 814,605 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 874,310 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Ensysce Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in ENSC. Citadel Advisors LLC purchased a new stake in shares of Ensysce Biosciences in the third quarter valued at $34,000. Virtu Financial LLC purchased a new position in Ensysce Biosciences in the 3rd quarter worth about $34,000. DRW Securities LLC increased its stake in Ensysce Biosciences by 42.4% in the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after buying an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in Ensysce Biosciences by 100.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after buying an additional 75,000 shares during the period. Hedge funds and other institutional investors own 5.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, the company presently has a consensus rating of “Sell”.

Ensysce Biosciences Price Performance

Shares of ENSC traded down $0.01 during midday trading on Wednesday, hitting $0.25. The stock had a trading volume of 423,537 shares, compared to its average volume of 4,508,052. Ensysce Biosciences has a 1 year low of $0.23 and a 1 year high of $2.75. The firm has a market cap of $3.78 million, a PE ratio of -0.07 and a beta of 0.83. The stock’s 50 day moving average is $0.39 and its 200 day moving average is $0.71.

Ensysce Biosciences (NASDAQ:ENSC) last announced its earnings results on Friday, May 15th. The company reported ($0.52) earnings per share for the quarter, beating 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 business had revenue of $0.96 million for the quarter, compared to the consensus estimate of $1.00 million. As a group, equities research analysts expect that Ensysce Biosciences will post -1.98 earnings per share for the current fiscal year.

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.