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

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

Analyst Ratings Changes

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

Ensysce Biosciences Stock Performance

Shares of ENSC traded down $0.00 during mid-day trading on Wednesday, hitting $0.29. The company’s stock had a trading volume of 384,362 shares, compared to its average volume of 4,016,980. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.75. The firm has a market capitalization of $4.43 million, a PE ratio of -0.09 and a beta of 0.78. The stock’s 50-day moving average is $0.29 and its two-hundred day moving average is $0.50.

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

Institutional Trading of Ensysce Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 valued at $138,000 after buying an additional 75,000 shares during the last quarter. DRW Securities LLC lifted its stake 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 buying an additional 29,336 shares during the period. Citadel Advisors LLC acquired a new stake in Ensysce Biosciences during the third quarter worth about $34,000. Finally, Virtu Financial LLC acquired a new stake in Ensysce Biosciences during the third quarter worth about $34,000. 5.63% of the stock is currently owned by institutional investors and hedge funds.

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.