Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Declines By 49.9%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large 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 trading volume of 1,052,907 shares, the short-interest ratio is currently 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 investment 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 Price Performance

ENSC traded up $0.01 during trading on Friday, reaching $0.28. 192,018 shares of the company’s stock were exchanged, compared to its average volume of 3,963,064. Ensysce Biosciences has a 1 year low of $0.23 and a 1 year high of $2.75. The stock has a market capitalization of $4.35 million, a P/E ratio of -0.08 and a beta of 0.78. The company’s fifty day simple moving average is $0.29 and its 200-day simple moving average is $0.49.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.21. The business had revenue of $0.96 million for the quarter, compared to the consensus estimate of $1.00 million. Ensysce Biosciences had a negative net margin of 250.39% and a negative return on equity of 766.45%. Equities analysts forecast that Ensysce Biosciences will post -1.98 EPS for the current year.

Institutional Investors Weigh In On Ensysce Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Ensysce Biosciences during the 3rd quarter worth about $34,000. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences in the 3rd quarter valued at about $34,000. DRW Securities LLC lifted its holdings 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 buying an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Ensysce Biosciences by 100.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after buying an additional 75,000 shares during the last quarter. 5.63% of the stock is owned by hedge funds and other 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.