Ensysce Biosciences, Inc. (NASDAQ:ENSC) Sees Significant Increase in Short Interest

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 205,100 shares, an increase of 22.8% from the December 31st total of 166,971 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily trading volume, of 106,376 shares, the short-interest ratio is currently 1.9 days. Based on an average daily trading volume, of 106,376 shares, the short-interest ratio is currently 1.9 days. Currently, 5.8% of the company’s stock are short sold.

Ensysce Biosciences Stock Performance

Shares of NASDAQ ENSC traded down $0.07 during trading on Tuesday, reaching $0.64. The stock had a trading volume of 115,077 shares, compared to its average volume of 111,354. The stock has a market cap of $2.32 million, a PE ratio of -0.10 and a beta of 1.17. Ensysce Biosciences has a one year low of $0.61 and a one year high of $6.60. The firm’s 50 day moving average price is $1.15 and its two-hundred day moving average price is $1.80.

Ensysce Biosciences (NASDAQ:ENSC) 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). Ensysce Biosciences had a negative return on equity of 437.31% and a negative net margin of 244.47%.The firm had revenue of $0.49 million for the quarter, compared to the consensus estimate of $0.70 million. On average, research analysts expect that Ensysce Biosciences will post -8.33 earnings per share for the current year.

Institutional Trading of Ensysce Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in Ensysce Biosciences in the 3rd quarter worth approximately $34,000. Virtu Financial LLC bought a new position in Ensysce Biosciences during the third quarter valued at about $34,000. Finally, TRU Independence Asset Management 2 LLC acquired a new position in shares of Ensysce Biosciences in the 3rd quarter worth approximately $25,000. 5.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENSC. Wall Street Zen raised Ensysce Biosciences to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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.