Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Up 496.0% in August

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 1,140,145 shares, a growth of 496.0% from the July 30th total of 191,291 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average trading volume of 84,955,912 shares, the short-interest ratio is presently 0.0 days.

Analyst Ratings Changes

ENSC has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Friday, July 17th. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ensysce Biosciences has a consensus rating of “Sell”.

Insider Buying and Selling

In other news, Director Bob G. Gower purchased 400,000 shares of Ensysce Biosciences stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $0.49 per share, with a total value of $196,000.00. Following the transaction, the director directly owned 916,740 shares in the company, valued at $449,202.60. The trade was a 77.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Ensysce Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in ENSC. Adage Capital Partners GP L.L.C. increased 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 worth $138,000 after buying an additional 75,000 shares during the last quarter. DRW Securities LLC lifted its stake in 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 acquiring an additional 29,336 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Ensysce Biosciences in the third quarter valued at $34,000. Finally, Virtu Financial LLC bought a new position in shares of Ensysce Biosciences in the 3rd quarter valued at about $34,000. 5.63% of the stock is owned by institutional investors.

Ensysce Biosciences Stock Up 0.3%

Shares of NASDAQ:ENSC traded up $0.00 during midday trading on Friday, reaching $0.40. The company had a trading volume of 91,704 shares, compared to its average volume of 8,534,982. Ensysce Biosciences has a 1-year low of $0.23 and a 1-year high of $2.75. The stock has a market cap of $7.78 million, a PE ratio of -0.14 and a beta of 0.84. The business’s 50 day moving average price is $0.32 and its 200 day moving average price is $0.39.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $1.20 million. Ensysce Biosciences had a negative return on equity of 2,550.30% and a negative net margin of 280.53%. On average, research analysts expect that Ensysce Biosciences will post -1.09 earnings per share for the current fiscal 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.