Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Increases By 121.2%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 403,334 shares, an increase of 121.2% from the June 30th total of 182,353 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 2,235,751 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. grew its holdings in 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 valued at $138,000 after purchasing an additional 75,000 shares during the period. DRW Securities LLC raised its holdings in Ensysce Biosciences by 42.4% in the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after purchasing an additional 29,336 shares during the period. Citadel Advisors LLC acquired a new stake in Ensysce Biosciences in the third quarter worth $34,000. Finally, Virtu Financial LLC bought a new position in shares of Ensysce Biosciences during the third quarter worth $34,000. Institutional investors own 5.63% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Ensysce Biosciences has a consensus rating of “Sell”.

Ensysce Biosciences Stock Performance

NASDAQ:ENSC traded down $0.01 during mid-day trading on Tuesday, hitting $0.25. The company had a trading volume of 167,553 shares, compared to its average volume of 3,779,283. Ensysce Biosciences has a fifty-two week low of $0.23 and a fifty-two week high of $2.75. The business’s fifty day moving average is $0.28 and its two-hundred day moving average is $0.46. The firm has a market cap of $3.80 million, a P/E ratio of -0.07 and a beta of 0.78.

Ensysce Biosciences (NASDAQ:ENSC) last issued its earnings results on Friday, May 15th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.21. The firm had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $1.00 million. Ensysce Biosciences had a negative return on equity of 766.45% and a negative net margin of 250.39%. Equities analysts forecast that Ensysce Biosciences will post -1.53 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.