Ensysce Biosciences, Inc. (NASDAQ:ENSC) Sees Significant Decrease in Short Interest

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 191,291 shares, a decline of 52.6% from the July 15th total of 403,334 shares. Based on an average daily trading volume, of 244,582 shares, the short-interest ratio is currently 0.8 days. Approximately 1.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Ensysce Biosciences has a consensus rating of “Sell”.

Hedge Funds Weigh In On Ensysce Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Ensysce Biosciences in the 3rd quarter valued at $34,000. Citadel Advisors LLC acquired a new stake in Ensysce Biosciences in the third quarter worth $34,000. DRW Securities LLC increased its stake in Ensysce Biosciences by 42.4% in the fourth 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Ensysce Biosciences by 100.4% during the fourth 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 period. 5.63% of the stock is currently owned by institutional investors.

Ensysce Biosciences Stock Up 14.7%

ENSC traded up $0.05 during trading on Friday, reaching $0.40. 18,472,169 shares of the stock traded hands, compared to its average volume of 42,097,140. The stock’s 50-day moving average is $0.30 and its 200 day moving average is $0.41. Ensysce Biosciences has a 12 month low of $0.23 and a 12 month high of $2.75. The stock has a market capitalization of $6.15 million, a PE ratio of -0.14 and a beta of 0.84.

Ensysce Biosciences (NASDAQ:ENSC) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.30. Ensysce Biosciences had a negative return on equity of 1,225.23% and a negative net margin of 280.53%.The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.20 million. As a group, equities research analysts anticipate that Ensysce Biosciences will post -1.27 EPS for the current 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.