Insider Buying: Ensysce Biosciences (NASDAQ:ENSC) Director Acquires $196,000.00 in Stock

Ensysce Biosciences, Inc. (NASDAQ:ENSC) Director Bob Gower bought 400,000 shares of Ensysce Biosciences stock in a transaction that occurred on 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 acquisition, the director directly owned 916,740 shares of the company’s stock, valued at $449,202.60. This represents a 77.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ensysce Biosciences Stock Performance

Ensysce Biosciences stock opened at $0.38 on Friday. The firm has a market cap of $7.35 million, a price-to-earnings ratio of -0.14 and a beta of 0.84. Ensysce Biosciences, Inc. has a 1 year low of $0.23 and a 1 year high of $2.75. The firm’s 50 day moving average price is $0.31 and its two-hundred day moving average price is $0.39.

Ensysce Biosciences (NASDAQ:ENSC) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.20) EPS for the quarter, meeting 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. Ensysce Biosciences had a negative return on equity of 2,550.30% and a negative net margin of 280.53%. As a group, equities analysts predict that Ensysce Biosciences, Inc. will post -1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ENSC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Friday, July 17th. Wall Street Zen upgraded 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, the stock currently has an average rating of “Sell”.

Institutional Trading of Ensysce Biosciences

Large investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its holdings 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 purchasing an additional 75,000 shares in the last quarter. DRW Securities LLC grew its holdings in shares of Ensysce Biosciences by 42.4% during the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after buying an additional 29,336 shares in the last quarter. Citadel Advisors LLC acquired a new position in Ensysce Biosciences during the third quarter valued at $34,000. Finally, Virtu Financial LLC acquired a new position in Ensysce Biosciences during the third quarter valued at $34,000. 5.63% of the stock is owned by institutional investors and hedge funds.

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.