Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Update

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 403,334 shares, an increase of 121.2% from the June 30th total of 182,353 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 2,235,751 shares, the days-to-cover ratio is currently 0.2 days.

Ensysce Biosciences Trading Down 5.6%

Shares of ENSC traded down $0.01 during mid-day trading on Tuesday, hitting $0.25. 167,553 shares of the company traded hands, compared to its average volume of 3,779,283. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.75. The business has a 50-day moving average of $0.28 and a 200 day moving average of $0.46. The stock has a market capitalization of $3.80 million, a price-to-earnings ratio of -0.07 and a beta of 0.78.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.00 million. As a group, analysts anticipate that Ensysce Biosciences will post -1.53 earnings per share for the current year.

Analyst Ratings Changes

Separately, 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, Based on data from MarketBeat, Ensysce Biosciences presently has an average rating of “Sell”.

Institutional Investors Weigh In On Ensysce Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in ENSC. Virtu Financial LLC bought a new position in Ensysce Biosciences in the third quarter valued at about $34,000. Citadel Advisors LLC acquired a new stake in Ensysce Biosciences in the third quarter worth about $34,000. DRW Securities LLC raised its holdings in Ensysce Biosciences by 42.4% during the 4th 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 last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Ensysce Biosciences by 100.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after purchasing an additional 75,000 shares during the last quarter. 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.