Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Drops By 43.3%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 22,000 shares, a decline of 43.3% from the February 28th total of 38,800 shares. Based on an average trading volume of 53,400 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.8% of the company’s shares are sold short.

Ensysce Biosciences Price Performance

Shares of NASDAQ:ENSC traded up $0.13 during midday trading on Friday, reaching $3.25. 48,213 shares of the company’s stock were exchanged, compared to its average volume of 508,434. The firm’s 50 day simple moving average is $5.46 and its two-hundred day simple moving average is $6.28. Ensysce Biosciences has a fifty-two week low of $2.12 and a fifty-two week high of $14.67. The stock has a market cap of $4.57 million, a price-to-earnings ratio of -0.12 and a beta of 0.64.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly earnings results on Monday, March 10th. The company reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.16). The firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $0.25 million. Ensysce Biosciences had a negative return on equity of 292.81% and a negative net margin of 179.26%. Equities research analysts predict that Ensysce Biosciences will post -8.33 earnings per share for the current fiscal year.

Institutional Trading of Ensysce Biosciences

An institutional investor recently bought a new position in Ensysce Biosciences stock. Anson Funds Management LP bought a new position in shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 983,518 shares of the company’s stock, valued at approximately $236,000. Anson Funds Management LP owned approximately 11.15% of Ensysce Biosciences as of its most recent SEC filing. Hedge funds and other institutional investors own 5.63% of the company’s stock.

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.