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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower bought 400,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $0.49 per share, with a total value of $196,000.00. Following the purchase, the director directly owned 916,740 shares of the company’s stock, valued at $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 the SEC website.

Ensysce Biosciences Trading Up 0.8%

ENSC stock opened at $0.39 on Thursday. The stock has a 50-day moving average price of $0.31 and a 200-day moving average price of $0.39. Ensysce Biosciences, Inc. has a 1-year low of $0.23 and a 1-year high of $2.75. The firm has a market cap of $7.55 million, a PE ratio of -0.14 and a beta of 0.84.

Ensysce Biosciences (NASDAQ:ENSC) last announced its earnings results on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, meeting 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 for the quarter, compared to analyst estimates of $1.20 million. On average, analysts forecast that Ensysce Biosciences, Inc. will post -1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

ENSC has been the subject of a number of research reports. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a 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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ensysce Biosciences has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its holdings in 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 purchasing an additional 75,000 shares during the last quarter. DRW Securities LLC grew its holdings in shares of 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 acquiring an additional 29,336 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter valued at approximately $34,000. Finally, Virtu Financial LLC bought a new stake in Ensysce Biosciences during the third quarter worth $34,000. Institutional investors own 5.63% of the company’s stock.

About Ensysce Biosciences

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.