Ensysce Biosciences, Inc. (NASDAQ:ENSC) Stock Short Interest Report for October

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 303,956 shares, a decrease of 71.9% from the September 30th total of 1,080,946 shares. Based on an average daily trading volume, of 804,737 shares, the short-interest ratio is presently 0.4 days. Currently, 1.6% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, Director Bob Gower bought 400,000 shares of Ensysce Biosciences stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $0.49 per share, with a total value of $196,000.00. Following the completion of the purchase, the director 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Ensysce Biosciences Stock Performance

Ensysce Biosciences stock traded up $0.00 during mid-day trading on Wednesday, hitting $0.45. The company’s stock had a trading volume of 14,799 shares, compared to its average volume of 6,914,896. The company has a 50 day moving average of $0.45 and a 200-day moving average of $0.45. The stock has a market cap of $8.79 million, a PE ratio of -0.16 and a beta of 1.00. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.23.

Ensysce Biosciences (NASDAQ:ENSC) last issued its earnings results on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). The company had revenue of $1.16 million during the quarter, compared to the consensus estimate of $1.20 million. On average, equities research analysts forecast that Ensysce Biosciences will post -0.60 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ENSC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Thursday, October 15th. Cantor Fitzgerald initiated coverage on shares of Ensysce Biosciences in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $2.00 price objective for the company. Finally, Wall Street Zen upgraded Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.00.

Ensysce Biosciences Company Profile

Ensysce Biosciences, Inc is a clinical-stage biotechnology company focused on developing prescription medicines designed to address opioid abuse, misuse and overdose. The company’s technology is intended to preserve the therapeutic benefits of opioid pain medicines while incorporating mechanisms that may reduce the risks associated with tampering or excessive dosing.

Ensysce’s lead product candidate, PF614, is an investigational extended-release oxycodone prodrug designed to be activated in the gastrointestinal tract.