Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Drops By 83.3%

Ensysce Biosciences, Inc. (NASDAQ:ENSCGet Rating) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 120,600 shares, a drop of 83.3% from the April 30th total of 724,300 shares. Based on an average daily trading volume, of 946,100 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.9% of the company’s stock are sold short.

NASDAQ ENSC traded up $0.03 during trading hours on Wednesday, reaching $0.51. 6,912 shares of the company’s stock traded hands, compared to its average volume of 1,048,638. Ensysce Biosciences has a 52-week low of $0.46 and a 52-week high of $17.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a 50-day simple moving average of $1.00 and a 200 day simple moving average of $1.88. The firm has a market cap of $17.76 million, a PE ratio of -0.38 and a beta of 0.53.

Ensysce Biosciences (NASDAQ:ENSCGet Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.54). The company had revenue of $1.64 million for the quarter, compared to the consensus estimate of $0.80 million. Ensysce Biosciences had a negative net margin of 788.03% and a negative return on equity of 502,460.41%. Sell-side analysts forecast that Ensysce Biosciences will post -0.73 EPS for the current fiscal year.

Ensysce Biosciences Company Profile (Get Rating)

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

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