Ensysce Biosciences (NASDAQ:ENSC) Trading Up 5.7% – What’s Next?

Ensysce Biosciences, Inc. (NASDAQ:ENSC) shot up 5.7% during mid-day trading on Tuesday . The company traded as high as $0.3922 and last traded at $0.3922. 367,432 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,543,370 shares. The stock had previously closed at $0.3712.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Ensysce Biosciences Price Performance

The firm’s fifty day simple moving average is $0.80 and its 200 day simple moving average is $1.61. The company has a market capitalization of $1.42 million, a PE ratio of -0.06 and a beta of 1.17.

Institutional Investors Weigh In On Ensysce Biosciences

Several hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its position in Ensysce Biosciences by 100.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after purchasing an additional 75,000 shares in the last quarter. DRW Securities LLC lifted its position in shares of Ensysce Biosciences by 42.4% during the 4th 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 stake in Ensysce Biosciences in the 3rd quarter valued at $34,000. Virtu Financial LLC acquired a new stake in Ensysce Biosciences in the 3rd quarter valued at $34,000. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in Ensysce Biosciences in the 3rd quarter worth $25,000. 5.63% of the stock is owned by hedge funds and other institutional investors.

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.