Ensysce Biosciences (NASDAQ:ENSC) Trading Up 5.7% – Here’s What Happened

Ensysce Biosciences, Inc. (NASDAQ:ENSC) shares were up 5.7% during trading on Tuesday . The company traded as high as $0.3922 and last traded at $0.3922. Approximately 367,432 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,543,370 shares. The stock had previously closed at $0.3712.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Ensysce Biosciences Stock Performance

The stock has a fifty day simple moving average of $0.77 and a 200-day simple moving average of $1.59. The stock has a market cap of $1.45 million, a P/E ratio of -0.06 and a beta of 1.17.

Institutional Investors Weigh In On Ensysce Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of ENSC. TRU Independence Asset Management 2 LLC acquired a new position in Ensysce Biosciences during the 3rd quarter worth approximately $25,000. Citadel Advisors LLC bought a new stake in shares of Ensysce Biosciences in the third quarter worth $34,000. Virtu Financial LLC acquired a new position in Ensysce Biosciences during the third quarter worth $34,000. DRW Securities LLC boosted its holdings in 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 purchasing an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in 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 valued at $138,000 after purchasing an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 5.63% of the company’s stock.

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.