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

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 84,700 shares, a growth 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.

Ensysce Biosciences Stock Performance

Shares of NASDAQ:ENSC traded down $0.22 during trading on Wednesday, reaching $6.93. 19,021 shares of the stock were exchanged, compared to its average volume of 68,518. Ensysce Biosciences has a 12-month low of $2.12 and a 12-month high of $29.25. The firm has a market cap of $9.08 million, a price-to-earnings ratio of -0.25 and a beta of 0.55. The firm’s 50-day moving average price is $7.73 and its 200 day moving average price is $6.65.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($4.50) by $5.55. Ensysce Biosciences had a negative return on equity of 292.81% and a negative net margin of 179.26%. The firm had revenue of $3.42 million during the quarter, compared to analysts’ expectations of $0.25 million. As a group, equities research analysts forecast that Ensysce Biosciences will post -12.44 EPS for the current year.

Institutional Investors 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) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period. 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.