Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Drops By 97.6%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 115,300 shares, a drop of 97.6% from the November 15th total of 4,850,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 0.1 days.

Ensysce Biosciences Stock Performance

ENSC traded down $0.04 during midday trading on Wednesday, reaching $6.81. 92,186 shares of the company were exchanged, compared to its average volume of 538,387. The company has a market cap of $8.89 million, a price-to-earnings ratio of -0.25 and a beta of 0.60. Ensysce Biosciences has a one year low of $2.12 and a one year high of $30.90. The company’s fifty day moving average price is $6.77 and its 200 day moving average price is $6.68.

Ensysce Biosciences (NASDAQ:ENSC) last released its quarterly 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. The business had revenue of $3.42 million during 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%. As a group, sell-side analysts anticipate that Ensysce Biosciences will post -12.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Ensysce Biosciences stock. Anson Funds Management LP bought a new position in shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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. Institutional investors and hedge funds own 5.63% of the company’s stock.

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.