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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower acquired 400,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $0.49 per share, for a total transaction of $196,000.00. Following the purchase, the director directly owned 916,740 shares in the company, valued at approximately $449,202.60. This represents a 77.41% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Ensysce Biosciences Stock Down 5.8%

Shares of ENSC stock opened at $0.38 on Tuesday. The stock has a 50-day simple moving average of $0.30 and a 200 day simple moving average of $0.40. Ensysce Biosciences, Inc. has a fifty-two week low of $0.23 and a fifty-two week high of $2.75. The stock has a market capitalization of $5.79 million, a P/E ratio of -0.14 and a beta of 0.84.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. The firm had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $1.20 million. On average, sell-side analysts anticipate that Ensysce Biosciences, Inc. will post -1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ENSC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Friday, July 17th. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Ensysce Biosciences currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Ensysce Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter valued at $34,000. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences in the 3rd quarter valued at $34,000. DRW Securities LLC boosted its position 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 period. Finally, Adage Capital Partners GP L.L.C. increased its stake in Ensysce Biosciences by 100.4% in the 4th 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 in the last quarter. 5.63% of the stock is 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.