Ensysce Biosciences (NASDAQ:ENSC) Director Bob Gower Purchases 400,000 Shares

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower bought 400,000 shares of Ensysce Biosciences stock in a transaction dated Friday, August 7th. The stock was acquired at an average price 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 approximately $449,202.60. The trade was a 77.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ensysce Biosciences Trading Up 2.2%

Shares of NASDAQ ENSC opened at $0.39 on Wednesday. Ensysce Biosciences, Inc. has a 12-month low of $0.23 and a 12-month high of $2.75. The firm’s 50-day moving average price is $0.31 and its 200-day moving average price is $0.40. The stock has a market capitalization of $5.92 million, a price-to-earnings ratio of -0.14 and a beta of 0.84.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). Ensysce Biosciences had a negative return on equity of 2,550.30% and a negative net margin of 280.53%.The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.20 million. On average, equities analysts predict that Ensysce Biosciences, Inc. will post -1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Ensysce Biosciences

Several hedge funds have recently added to or reduced their stakes in ENSC. Citadel Advisors LLC purchased a new stake in Ensysce Biosciences in the 3rd quarter worth about $34,000. Virtu Financial LLC purchased a new position in shares of Ensysce Biosciences during the third quarter valued at approximately $34,000. DRW Securities LLC grew its stake in shares of Ensysce Biosciences by 42.4% during the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after buying an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake 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 buying an additional 75,000 shares during the last quarter. 5.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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