Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Grows By 22.8%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 205,100 shares, an increase of 22.8% from the December 31st total of 166,971 shares. Based on an average daily trading volume, of 106,376 shares, the days-to-cover ratio is currently 1.9 days. Currently, 5.8% of the company’s stock are short sold. Currently, 5.8% of the company’s stock are short sold. Based on an average daily trading volume, of 106,376 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in Ensysce Biosciences during the third quarter valued at about $34,000. Virtu Financial LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter worth about $34,000. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter worth about $25,000. Hedge funds and other institutional investors own 5.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ENSC shares. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reissued 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 data from MarketBeat.com, Ensysce Biosciences currently has a consensus rating of “Sell”.

Ensysce Biosciences Price Performance

ENSC stock opened at $0.61 on Wednesday. Ensysce Biosciences has a 1 year low of $0.59 and a 1 year high of $6.60. The company has a market cap of $2.21 million, a P/E ratio of -0.10 and a beta of 1.17. The stock’s fifty day moving average price is $1.13 and its 200-day moving average price is $1.79.

Ensysce Biosciences (NASDAQ:ENSC) last posted its quarterly earnings data on Friday, November 14th. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.44). The firm had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.70 million. Ensysce Biosciences had a negative net margin of 244.47% and a negative return on equity of 437.31%. As a group, analysts expect that Ensysce Biosciences will post -8.33 earnings per share for the current year.

Ensysce Biosciences Company Profile

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.