Ensysce Biosciences (NASDAQ:ENSC) Director Bob Gower Purchases 508,614 Shares

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower bought 508,614 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average price of $0.48 per share, for a total transaction of $244,134.72. Following the acquisition, the director directly owned 516,740 shares of the company’s stock, valued at approximately $248,035.20. The trade was a 6,259.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Ensysce Biosciences Stock Performance

Shares of NASDAQ:ENSC opened at $0.39 on Wednesday. The business has a fifty day moving average of $0.31 and a 200-day moving average of $0.40. Ensysce Biosciences, Inc. has a twelve month low of $0.23 and a twelve month high of $2.75. The firm has a market cap of $5.92 million, a PE 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) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. On average, analysts anticipate that Ensysce Biosciences, Inc. will post -1.27 EPS for the current fiscal year.

Institutional Trading of Ensysce Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its holdings in Ensysce Biosciences by 100.4% during 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 during the last quarter. DRW Securities LLC grew its position in shares of Ensysce Biosciences by 42.4% during the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after buying an additional 29,336 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Ensysce Biosciences during the 3rd quarter worth approximately $34,000. Finally, Virtu Financial LLC bought a new stake in shares of Ensysce Biosciences during the third quarter worth approximately $34,000. 5.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on ENSC shares. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated 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, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.