Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Grows By 85.7%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 84,700 shares, an increase of 85.7% from the December 31st total of 45,600 shares. Based on an average daily volume of 1,800,000 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Ensysce Biosciences

A hedge fund recently bought a new stake in Ensysce Biosciences stock. Anson Funds Management LP purchased a new position in shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 983,518 shares of the company’s stock, valued at approximately $236,000. Anson Funds Management LP owned about 11.15% of Ensysce Biosciences as of its most recent SEC filing. Institutional investors own 5.63% of the company’s stock.

Ensysce Biosciences Stock Performance

Shares of ENSC stock traded down $0.22 on Wednesday, hitting $6.93. 19,021 shares of the stock traded hands, compared to its average volume of 68,518. The firm’s 50-day moving average price is $7.73 and its two-hundred day moving average price is $6.65. The stock has a market capitalization of $9.08 million, a PE ratio of -0.25 and a beta of 0.55. Ensysce Biosciences has a twelve month low of $2.12 and a twelve month high of $29.25.

Ensysce Biosciences (NASDAQ:ENSC) last posted its earnings results on Tuesday, November 12th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of ($4.50) by $5.55. Ensysce Biosciences had a negative net margin of 179.26% and a negative return on equity of 292.81%. The company had revenue of $3.42 million for the quarter, compared to analysts’ expectations of $0.25 million. On average, equities research analysts anticipate that Ensysce Biosciences will post -12.44 EPS 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.