Ensysce Biosciences (NASDAQ:ENSC) Director Purchases 400,000 Shares

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower purchased 400,000 shares of Ensysce Biosciences stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $0.49 per share, with a total value of $196,000.00. Following the completion of the acquisition, the director owned 916,740 shares in the company, valued at $449,202.60. The trade was a 77.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ensysce Biosciences Stock Performance

NASDAQ:ENSC opened at $0.38 on Tuesday. The stock’s 50 day moving average price is $0.30 and its 200 day moving average price is $0.40. Ensysce Biosciences, Inc. has a 52 week low of $0.23 and a 52 week high of $2.75. The company has a market capitalization of $5.79 million, a P/E ratio of -0.14 and a beta of 0.84.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $1.16 million for the quarter, compared to analyst estimates of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. As a group, sell-side analysts forecast that Ensysce Biosciences, Inc. will post -1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ensysce Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Ensysce Biosciences during the third quarter worth approximately $34,000. Citadel Advisors LLC acquired a new position in Ensysce Biosciences during the third quarter valued at approximately $34,000. DRW Securities LLC raised its position 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 purchasing an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Ensysce Biosciences by 100.4% in 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 last quarter. 5.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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