Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Down 71.5% in May

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 98,000 shares, a decrease of 71.5% from the May 15th total of 344,400 shares. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 8.1% of the company’s shares are sold short.

Ensysce Biosciences Trading Up 3.4%

Ensysce Biosciences stock opened at $2.14 on Friday. The company has a market capitalization of $5.07 million, a price-to-earnings ratio of -0.08 and a beta of 0.97. The business’s fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $4.86. Ensysce Biosciences has a 12 month low of $1.62 and a 12 month high of $14.67.

Ensysce Biosciences (NASDAQ:ENSC) last announced its earnings results on Tuesday, May 13th. The company reported ($1.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.02) by $1.63. The business had revenue of $1.32 million during the quarter, compared to analyst estimates of $0.65 million. Ensysce Biosciences had a negative net margin of 179.26% and a negative return on equity of 292.81%. On average, equities research analysts predict that Ensysce Biosciences will post -8.33 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ensysce Biosciences stock. Adage Capital Partners GP L.L.C. raised its position in Ensysce Biosciences, Inc. (NASDAQ:ENSC) by 49.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,711 shares of the company’s stock after purchasing an additional 24,711 shares during the quarter. Adage Capital Partners GP L.L.C. owned 3.15% of Ensysce Biosciences worth $191,000 as of its most recent SEC filing. 5.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Ensysce Biosciences from a “sell” rating to a “hold” rating in a report on Friday, May 30th.

About Ensysce Biosciences

Ensysce Biosciences, Inc, a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection (TAAP) platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance (MPAR) platform, an over-dose protection opioid prodrug technology.