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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the target of a large drop in short interest in the month of 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 days-to-cover ratio is currently 0.4 days. Currently, 1.8% of the company’s shares are sold short.

Hedge Funds Weigh In On Ensysce Biosciences

A hedge fund recently bought a new stake in Ensysce Biosciences stock. Anson Funds Management LP bought a new position in Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 983,518 shares of the company’s stock, valued at approximately $236,000. Anson Funds Management LP owned 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.

Ensysce Biosciences Trading Down 2.5 %

Shares of ENSC opened at $3.12 on Friday. The business’s 50-day moving average price is $5.55 and its 200 day moving average price is $6.29. The stock has a market capitalization of $4.38 million, a P/E ratio of -0.11 and a beta of 0.64. Ensysce Biosciences has a 1-year low of $2.12 and a 1-year high of $14.67.

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 return on equity of 292.81% and a negative net margin of 179.26%. The firm had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $0.25 million. On average, research analysts predict that Ensysce Biosciences will post -8.33 earnings per share for the current 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.