Ensysce Biosciences (NASDAQ:ENSC) Trading Up 11.3% – Here’s What Happened

by · The Cerbat Gem

Ensysce Biosciences, Inc. (NASDAQ:ENSC – Get Free Report) shares were up 11.3% during mid-day trading on Wednesday . The company traded as high as $1.60 and last traded at $1.58. Approximately 624,608 shares were traded during trading, an increase of 66% from the average daily volume of 376,240 shares. The stock had previously closed at $1.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ENSC shares. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a report 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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

View Our Latest Analysis on ENSC

Ensysce Biosciences Price Performance

The company has a 50 day moving average price of $2.04 and a 200 day moving average price of $2.12. The firm has a market cap of $5.74 million, a PE ratio of -0.25 and a beta of 1.15.

Ensysce Biosciences (NASDAQ:ENSC – Get Free Report) last announced its quarterly earnings data on Friday, November 14th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.44). The firm had revenue of $0.49 million during the quarter, compared to analyst estimates of $0.70 million. Ensysce Biosciences had a negative net margin of 244.47% and a negative return on equity of 437.31%. On average, equities analysts anticipate that Ensysce Biosciences, Inc. will post -8.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. TRU Independence Asset Management 2 LLC acquired a new position in Ensysce Biosciences during the 3rd quarter worth approximately $25,000. Virtu Financial LLC purchased a new stake in shares of Ensysce Biosciences in the third quarter valued at approximately $34,000. Citadel Advisors LLC acquired a new position in Ensysce Biosciences during the third quarter worth $34,000. Adage Capital Partners GP L.L.C. raised its position in Ensysce Biosciences by 49.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 74,711 shares of the company’s stock worth $191,000 after acquiring an additional 24,711 shares in the last quarter. Finally, Murchinson Ltd. acquired a new stake in Ensysce Biosciences in the first quarter valued at $358,000. 5.63% of the stock is owned by hedge funds and other institutional investors.

Ensysce Biosciences Company Profile

(Get Free Report)

Ensysce Biosciences, Inc, a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection (TAAP) platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance (MPAR) platform, an over-dose protection opioid prodrug technology.

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