Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Up 92.9% in February

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 326,647 shares, an increase of 92.9% from the February 12th total of 169,352 shares. Currently, 9.3% of the company’s stock are short sold. Based on an average daily volume of 35,332,117 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 35,332,117 shares, the days-to-cover ratio is presently 0.0 days. Currently, 9.3% of the company’s stock are short sold.

Ensysce Biosciences Price Performance

Shares of NASDAQ ENSC traded down $0.03 during mid-day trading on Friday, hitting $0.41. The company had a trading volume of 280,796 shares, compared to its average volume of 17,292,046. The business’s 50-day simple moving average is $0.65 and its 200-day simple moving average is $1.47. Ensysce Biosciences has a 12 month low of $0.31 and a 12 month high of $4.85. The firm has a market cap of $1.48 million, a P/E ratio of -0.06 and a beta of 1.14.

Institutional Investors Weigh In On Ensysce Biosciences

A number of institutional investors have recently added to or reduced their stakes in ENSC. Adage Capital Partners GP L.L.C. lifted its position 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 worth $138,000 after buying an additional 75,000 shares during the period. DRW Securities LLC grew its position in Ensysce Biosciences by 42.4% in the fourth 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 period. Citadel Advisors LLC bought a new stake in Ensysce Biosciences in the third quarter valued at $34,000. Virtu Financial LLC bought a new position in Ensysce Biosciences during the 3rd quarter valued at about $34,000. Finally, TRU Independence Asset Management 2 LLC bought a new position in shares of Ensysce Biosciences in the third quarter valued at approximately $25,000. 5.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

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.