Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Update

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 132,839 shares, a decline of 59.3% from the February 26th total of 326,647 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average trading volume of 2,176,167 shares, the short-interest ratio is currently 0.1 days.

Ensysce Biosciences Stock Down 3.1%

Ensysce Biosciences stock traded down $0.02 during trading hours on Friday, hitting $0.53. 343,755 shares of the company traded hands, compared to its average volume of 6,306,227. Ensysce Biosciences has a 1-year low of $0.31 and a 1-year high of $4.85. The firm has a market cap of $1.92 million, a P/E ratio of -0.08 and a beta of 1.14. The firm’s 50-day simple moving average is $0.57 and its two-hundred day simple moving average is $1.37.

Institutional Investors Weigh In On Ensysce Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TRU Independence Asset Management 2 LLC acquired a new stake in Ensysce Biosciences in the third quarter worth approximately $25,000. Virtu Financial LLC acquired a new position in shares of Ensysce Biosciences during the 3rd quarter valued at $34,000. Citadel Advisors LLC bought a new stake in shares of Ensysce Biosciences in the 3rd quarter worth $34,000. DRW Securities LLC raised 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 worth $91,000 after buying an additional 29,336 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings 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 valued at $138,000 after buying an additional 75,000 shares during the period. Institutional investors own 5.63% of the company’s stock.

Analyst Upgrades and Downgrades

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