Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Up 619.9% in June

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

Ensysce Biosciences Stock Performance

ENSC stock opened at $0.30 on Friday. The company’s 50-day simple moving average is $0.33 and its 200 day simple moving average is $0.59. Ensysce Biosciences has a 52 week low of $0.23 and a 52 week high of $2.75. The company has a market capitalization of $4.62 million, a PE ratio of -0.09 and a beta of 0.83.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $1.00 million. On average, analysts forecast that Ensysce Biosciences will post -1.98 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENSC. Adage Capital Partners GP L.L.C. raised its position 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 valued at $138,000 after purchasing an additional 75,000 shares in the last quarter. DRW Securities LLC increased its stake in shares of Ensysce Biosciences by 42.4% in the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after purchasing an additional 29,336 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences during the 3rd quarter worth $34,000. Finally, Virtu Financial LLC acquired a new position in shares of Ensysce Biosciences during the 3rd quarter worth $34,000. 5.63% of the stock is owned by institutional investors.

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.