Insider Buying: Ensysce Biosciences (NASDAQ:ENSC) Director Buys 508,614 Shares of Stock

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower purchased 508,614 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was bought at an average price of $0.48 per share, with a total value of $244,134.72. Following the completion of the transaction, the director directly owned 516,740 shares of the company’s stock, valued at approximately $248,035.20. This represents a 6,259.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ensysce Biosciences Stock Performance

Shares of Ensysce Biosciences stock opened at $0.38 on Tuesday. Ensysce Biosciences, Inc. has a one year low of $0.23 and a one year high of $2.75. The company has a market cap of $5.79 million, a price-to-earnings ratio of -0.14 and a beta of 0.84. The business’s 50 day moving average price is $0.30 and its 200 day moving average price is $0.40.

Ensysce Biosciences (NASDAQ:ENSC) last issued its earnings results on Thursday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). Ensysce Biosciences had a negative return on equity of 2,550.30% and a negative net margin of 280.53%.The company had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $1.20 million. On average, analysts predict that Ensysce Biosciences, Inc. will post -1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Ensysce Biosciences

Several large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences during the 3rd quarter worth approximately $34,000. Virtu Financial LLC purchased a new position in shares of Ensysce Biosciences during the third quarter valued at approximately $34,000. DRW Securities LLC boosted its position in 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 acquiring an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake 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 acquiring an additional 75,000 shares during the period. Hedge funds and other institutional investors own 5.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ENSC. Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average 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.