Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Increases By 619.9%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totaling 364,278 shares, a growth of 619.9% from the May 31st total of 50,601 shares. Based on an average daily volume of 1,391,722 shares, the days-to-cover ratio is currently 0.3 days. Approximately 2.4% of the company’s shares are sold short.

Ensysce Biosciences Stock Performance

ENSC stock opened at $0.28 on Friday. The company has a fifty day moving average price of $0.33 and a 200-day moving average price of $0.60. The company has a market capitalization of $4.35 million, a P/E ratio of -0.08 and a beta of 0.83. Ensysce Biosciences has a 52-week low of $0.23 and a 52-week high of $2.75.

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

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus 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.