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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large increase in short interest in May. As of May 15th, there was short interest totaling 814,605 shares, an increase of 1,444.9% from the April 30th total of 52,730 shares. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily volume of 8,665,067 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Ensysce Biosciences

Several institutional investors and hedge funds have recently modified their holdings of ENSC. Citadel Advisors LLC bought a new stake in shares of Ensysce Biosciences during the 3rd quarter worth $34,000. Virtu Financial LLC bought a new position in Ensysce Biosciences in the 3rd quarter valued at approximately $34,000. DRW Securities LLC lifted 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 valued at $91,000 after purchasing an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted 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 valued at $138,000 after purchasing an additional 75,000 shares during the last quarter. 5.63% of the stock is currently owned by institutional investors.

Ensysce Biosciences Stock Performance

Shares of ENSC traded down $0.01 during trading hours on Wednesday, hitting $0.30. 512,036 shares of the company were exchanged, compared to its average volume of 5,273,216. Ensysce Biosciences has a fifty-two week low of $0.23 and a fifty-two week high of $2.75. The firm’s fifty day moving average is $0.45 and its 200 day moving average is $0.84.

Ensysce Biosciences (NASDAQ:ENSC) last released its earnings results on Friday, May 15th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.21. Ensysce Biosciences had a negative return on equity of 766.45% and a negative net margin of 250.39%.The company had revenue of $0.96 million for the quarter, compared to analyst estimates of $1.00 million. Sell-side analysts expect that Ensysce Biosciences will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.