Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Expands By 328.3%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 134,900 shares, a growth of 328.3% from the March 31st total of 31,500 shares. Currently, 11.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 0.1 days.

Ensysce Biosciences Price Performance

NASDAQ ENSC opened at $2.93 on Tuesday. The business’s fifty day moving average price is $3.44 and its 200-day moving average price is $5.99. The stock has a market capitalization of $4.82 million, a price-to-earnings ratio of -0.11 and a beta of 1.06. Ensysce Biosciences has a 1-year low of $1.62 and a 1-year high of $14.67.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly earnings results on Monday, March 10th. The company reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($2.74) by ($0.16). The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $0.25 million. Ensysce Biosciences had a negative net margin of 179.26% and a negative return on equity of 292.81%. Equities research analysts anticipate that Ensysce Biosciences will post -8.33 EPS for the current year.

Institutional Investors Weigh In On Ensysce Biosciences

A hedge fund recently bought a new stake in Ensysce Biosciences stock. Adage Capital Partners GP L.L.C. acquired a new position in Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $407,000. Adage Capital Partners GP L.L.C. owned approximately 3.82% of Ensysce Biosciences at the end of the most recent reporting period. Institutional investors own 5.63% of the company’s stock.

About Ensysce Biosciences

Ensysce Biosciences, Inc, a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection (TAAP) platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance (MPAR) platform, an over-dose protection opioid prodrug technology.