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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a significant 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. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 2,235,751 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Ensysce Biosciences

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Ensysce Biosciences Stock Up 0.4%

Ensysce Biosciences stock traded up $0.00 during midday trading on Wednesday, reaching $0.25. The stock had a trading volume of 204,619 shares, compared to its average volume of 3,755,002. The firm has a market capitalization of $3.87 million, a PE ratio of -0.08 and a beta of 0.78. Ensysce Biosciences has a 12 month low of $0.23 and a 12 month high of $2.75. The firm’s 50-day moving average price is $0.28 and its 200 day moving average price is $0.45.

Ensysce Biosciences (NASDAQ:ENSC) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.21. The company 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%. Equities research analysts expect 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.