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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 225,167 shares, an increase of 188.9% from the November 30th total of 77,945 shares. Based on an average daily volume of 659,335 shares, the days-to-cover ratio is presently 0.3 days. Currently, 6.4% of the company’s shares are sold short. Currently, 6.4% of the company’s shares are sold short. Based on an average daily volume of 659,335 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ENSC shares. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Trading of Ensysce Biosciences

A number of hedge funds have recently made changes to their positions in the company. TRU Independence Asset Management 2 LLC purchased a new position in shares of Ensysce Biosciences in the third quarter valued at $25,000. Virtu Financial LLC acquired a new position in Ensysce Biosciences in the 3rd quarter worth $34,000. Citadel Advisors LLC purchased a new position in Ensysce Biosciences in the 3rd quarter valued at about $34,000. Adage Capital Partners GP L.L.C. boosted its position in Ensysce Biosciences by 49.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 74,711 shares of the company’s stock valued at $191,000 after buying an additional 24,711 shares during the last quarter. Finally, Murchinson Ltd. acquired a new stake in shares of Ensysce Biosciences during the first quarter valued at about $358,000. Hedge funds and other institutional investors own 5.63% of the company’s stock.

Ensysce Biosciences Stock Performance

Shares of NASDAQ:ENSC traded down $0.03 during midday trading on Friday, hitting $1.08. 47,205 shares of the company’s stock traded hands, compared to its average volume of 595,365. Ensysce Biosciences has a twelve month low of $1.08 and a twelve month high of $9.57. The company has a market cap of $3.93 million, a PE ratio of -0.17 and a beta of 1.15. The firm’s fifty day moving average price is $1.77 and its two-hundred day moving average price is $2.04.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly earnings data on Friday, November 14th. The company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.44). Ensysce Biosciences had a negative net margin of 244.47% and a negative return on equity of 437.31%. The company had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $0.70 million. As a group, equities research analysts anticipate that Ensysce Biosciences will post -8.33 EPS for the current fiscal 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.