Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Down 93.8% in May

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 50,601 shares, a decline of 93.8% from the May 14th total of 814,605 shares. Based on an average daily volume of 874,310 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Ensysce Biosciences

A number of large investors have recently modified their holdings of ENSC. Virtu Financial LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter worth $34,000. Citadel Advisors LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter worth $34,000. DRW Securities LLC grew its holdings 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 5.63% of the company’s stock.

Ensysce Biosciences Stock Performance

Shares of ENSC traded up $0.01 during mid-day trading on Thursday, hitting $0.26. 1,319,842 shares of the company were exchanged, compared to its average volume of 4,488,406. The stock has a market cap of $4.05 million, a price-to-earnings ratio of -0.08 and a beta of 0.83. Ensysce Biosciences has a 1-year low of $0.23 and a 1-year high of $2.75. The company has a 50 day moving average of $0.39 and a 200-day moving average of $0.70.

Ensysce Biosciences (NASDAQ:ENSC) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate 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 company had revenue of $0.96 million during the quarter, compared to analyst estimates of $1.00 million. Research analysts anticipate that Ensysce Biosciences will post -1.98 earnings per share for the current fiscal year.

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.