Ensysce Biosciences, Inc. (NASDAQ:ENSC) Stock Short Interest Report for October

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a significant drop in short interest in October. As of October 15th, there was short interest totaling 303,956 shares, a drop of 71.9% from the September 30th total of 1,080,946 shares. Based on an average daily volume of 804,737 shares, the short-interest ratio is currently 0.4 days. Currently, 1.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald started coverage on shares of Ensysce Biosciences in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $2.00 price objective for the company. Wall Street Zen raised Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ensysce Biosciences currently has a consensus rating of “Hold” and an average target price of $2.00.

Insider Buying and Selling at Ensysce Biosciences

In other news, Director Bob Gower purchased 400,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $0.49 per share, for a total transaction of $196,000.00. Following the completion of the acquisition, the director owned 916,740 shares in the company, valued at $449,202.60. This trade represents a 77.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by insiders.

Ensysce Biosciences Stock Performance

ENSC traded down $0.01 during midday trading on Thursday, reaching $0.44. The company had a trading volume of 177,066 shares, compared to its average volume of 6,882,759. Ensysce Biosciences has a 12-month low of $0.23 and a 12-month high of $2.23. The business has a 50-day moving average price of $0.45 and a two-hundred day moving average price of $0.44. The stock has a market cap of $8.52 million, a PE ratio of -0.16 and a beta of 1.00.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.20 million. On average, research analysts anticipate that Ensysce Biosciences will post -0.60 earnings per share for the current year.

About Ensysce Biosciences

Ensysce Biosciences, Inc is a clinical-stage biotechnology company focused on developing prescription medicines designed to address opioid abuse, misuse and overdose. The company’s technology is intended to preserve the therapeutic benefits of opioid pain medicines while incorporating mechanisms that may reduce the risks associated with tampering or excessive dosing.

Ensysce’s lead product candidate, PF614, is an investigational extended-release oxycodone prodrug designed to be activated in the gastrointestinal tract.