Ensysce Biosciences, Inc. (NASDAQ:ENSC) Short Interest Update

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 22,000 shares, a drop of 43.3% from the February 28th total of 38,800 shares. Based on an average daily volume of 53,400 shares, the short-interest ratio is presently 0.4 days. Currently, 1.8% of the shares of the stock are sold short.

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 stake in shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. 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 quarter. 5.63% of the stock is currently owned by institutional investors and hedge funds.

Ensysce Biosciences Price Performance

Ensysce Biosciences stock traded up $0.13 during midday trading on Friday, reaching $3.25. The company had a trading volume of 48,213 shares, compared to its average volume of 508,434. Ensysce Biosciences has a 12-month low of $2.12 and a 12-month high of $14.67. The company has a market capitalization of $4.57 million, a P/E ratio of -0.12 and a beta of 0.64. The firm’s fifty day simple moving average is $5.46 and its 200-day simple moving average is $6.28.

Ensysce Biosciences (NASDAQ:ENSC) last released its 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). Ensysce Biosciences had a negative net margin of 179.26% and a negative return on equity of 292.81%. The firm had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $0.25 million. On average, analysts expect that Ensysce Biosciences will post -8.33 EPS for the current fiscal year.

Ensysce Biosciences Company Profile

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.