Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Down 49.9% in June

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 182,353 shares, a decrease of 49.9% from the June 15th total of 364,278 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 1,052,907 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Ensysce Biosciences Stock Down 4.8%

ENSC stock traded down $0.01 during midday trading on Thursday, reaching $0.28. The company had a trading volume of 394,997 shares, compared to its average volume of 3,990,427. The firm has a market capitalization of $4.26 million, a PE ratio of -0.08 and a beta of 0.78. The stock has a 50 day moving average price of $0.29 and a 200 day moving average price of $0.50. Ensysce Biosciences has a fifty-two week low of $0.23 and a fifty-two week high of $2.75.

Ensysce Biosciences (NASDAQ:ENSC) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.21. Ensysce Biosciences had a negative return on equity of 766.45% and a negative net margin of 250.39%.The business had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $1.00 million. Research analysts predict that Ensysce Biosciences will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENSC. Virtu Financial LLC bought a new position in Ensysce Biosciences in the 3rd quarter worth about $34,000. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences during the third quarter worth approximately $34,000. DRW Securities LLC grew its holdings in 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. grew its holdings in Ensysce Biosciences by 100.4% in 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 in the last quarter. 5.63% of the stock is owned by institutional investors and hedge funds.

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.