Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Increases By 619.9%

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

Institutional Trading of Ensysce Biosciences

A number of hedge funds have recently added to or reduced their stakes in ENSC. Virtu Financial LLC bought a new stake in shares of Ensysce Biosciences during the third quarter worth $34,000. Citadel Advisors LLC bought a new position in shares of Ensysce Biosciences in the 3rd quarter valued at $34,000. DRW Securities LLC lifted 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 acquiring an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of 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 valued at $138,000 after acquiring an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 5.63% of the company’s stock.

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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Ensysce Biosciences Trading Up 1.1%

Shares of NASDAQ ENSC opened at $0.28 on Friday. The company has a market cap of $4.35 million, a price-to-earnings ratio of -0.08 and a beta of 0.83. Ensysce Biosciences has a 12 month low of $0.23 and a 12 month high of $2.75. The stock has a 50-day moving average price of $0.33 and a two-hundred day moving average price of $0.60.

Ensysce Biosciences (NASDAQ:ENSC) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.21. The company 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%. On average, sell-side analysts predict that Ensysce Biosciences will post -1.98 earnings per share for the current year.

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.