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

by · The Markets Daily

Ensysce Biosciences, Inc. (NASDAQ:ENSC – Get Free Report) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 182,353 shares, a decline of 49.9% from the June 15th total of 364,278 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 1,052,907 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Ensysce Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new position in shares of Ensysce Biosciences in the third quarter valued at approximately $34,000. Virtu Financial LLC acquired a new position in Ensysce Biosciences in the 3rd quarter valued at $34,000. DRW Securities LLC grew 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 buying an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings 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 worth $138,000 after acquiring an additional 75,000 shares during the period. Institutional investors and hedge funds own 5.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on Ensysce Biosciences

Ensysce Biosciences Trading Down 1.5%

NASDAQ ENSC traded down $0.00 during trading on Wednesday, hitting $0.29. 384,362 shares of the company traded hands, compared to its average volume of 4,016,980. Ensysce Biosciences has a 12 month low of $0.23 and a 12 month high of $2.75. The business has a fifty day simple moving average of $0.29 and a 200 day simple moving average of $0.50. The company has a market capitalization of $4.43 million, a P/E ratio of -0.09 and a beta of 0.78.

Ensysce Biosciences (NASDAQ:ENSC – Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $1.00 million. Equities research analysts predict that Ensysce Biosciences will post -1.98 EPS for the current fiscal year.

About Ensysce Biosciences

(Get Free Report)

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.

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