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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large 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 company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ensysce Biosciences stock. Adage Capital Partners GP L.L.C. purchased a new position in Ensysce Biosciences, Inc. (NASDAQ:ENSC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 50,000 shares of the company’s stock, valued at approximately $407,000. Adage Capital Partners GP L.L.C. owned 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 Stock Performance

NASDAQ:ENSC traded up $0.13 during trading hours on Friday, reaching $3.25. The stock had a trading volume of 48,213 shares, compared to its average volume of 508,434. The stock has a market cap of $4.57 million, a P/E ratio of -0.12 and a beta of 0.64. The stock has a 50 day simple moving average of $5.46 and a 200 day simple moving average of $6.27. Ensysce Biosciences has a 12-month low of $2.12 and a 12-month high of $14.67.

Ensysce Biosciences (NASDAQ:ENSC) last announced its quarterly earnings data on Monday, March 10th. The company reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $0.25 million. On average, equities analysts expect that Ensysce Biosciences will post -8.33 earnings per share for the current fiscal year.

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.