Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Rises By 1,444.9%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 814,605 shares, a growth of 1,444.9% from the April 30th total of 52,730 shares. Currently, 5.7% of the company’s stock are short sold. Based on an average daily trading volume, of 8,665,067 shares, the days-to-cover ratio is presently 0.1 days.

Ensysce Biosciences Trading Down 6.6%

Shares of ENSC traded down $0.02 during mid-day trading on Friday, hitting $0.28. 845,969 shares of the company’s stock were exchanged, compared to its average volume of 4,757,981. Ensysce Biosciences has a fifty-two week low of $0.23 and a fifty-two week high of $2.75. The firm has a market capitalization of $4.13 million, a P/E ratio of -0.08 and a beta of 0.87. The business’s 50 day moving average is $0.44 and its two-hundred day moving average is $0.81.

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

Institutional Investors Weigh In On Ensysce Biosciences

Several hedge funds have recently made changes to their positions in ENSC. Citadel Advisors LLC acquired a new stake in shares of Ensysce Biosciences during the third quarter worth about $34,000. Virtu Financial LLC acquired a new stake in shares of Ensysce Biosciences during the third quarter worth about $34,000. DRW Securities LLC boosted its stake in shares of Ensysce Biosciences by 42.4% during the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after buying an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Ensysce Biosciences by 100.4% during the fourth 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. Institutional investors and hedge funds own 5.63% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus 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.