Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Up 121.2% in July

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large 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. Based on an average daily volume of 2,235,751 shares, the short-interest ratio is presently 0.2 days. Approximately 2.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Ensysce Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of ENSC. Citadel Advisors LLC bought a new position in Ensysce Biosciences in the third quarter valued at about $34,000. Virtu Financial LLC acquired a new position in shares of Ensysce Biosciences in the third quarter valued at approximately $34,000. DRW Securities LLC increased its stake in shares of Ensysce Biosciences by 42.4% in the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after buying an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised 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 valued at $138,000 after buying an additional 75,000 shares during the last quarter. 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 report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Ensysce Biosciences presently has an average rating of “Sell”.

Ensysce Biosciences Price Performance

ENSC stock traded up $0.00 during trading on Thursday, reaching $0.25. 91,297 shares of the company were exchanged, compared to its average volume of 3,729,775. The company has a 50-day moving average of $0.28 and a two-hundred day moving average of $0.45. The company has a market capitalization of $3.90 million, a price-to-earnings ratio of -0.08 and a beta of 0.78. Ensysce Biosciences has a twelve month low of $0.23 and a twelve month high of $2.75.

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