Short Interest in Ensysce Biosciences, Inc. (NASDAQ:ENSC) Drops By 70.5%

Ensysce Biosciences, Inc. (NASDAQ:ENSC) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 203,300 shares, a drop of 70.5% from the August 31st total of 689,400 shares. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.9% of the company’s stock are sold short.

Ensysce Biosciences Price Performance

Shares of ENSC stock remained flat at $0.30 on Wednesday. The company had a trading volume of 106,181 shares, compared to its average volume of 1,171,069. The stock’s fifty day moving average is $0.40 and its two-hundred day moving average is $0.54. Ensysce Biosciences has a twelve month low of $0.29 and a twelve month high of $2.06. The company has a market cap of $2.26 million, a P/E ratio of -0.08 and a beta of 0.87.

Ensysce Biosciences (NASDAQ:ENSC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.17. Ensysce Biosciences had a negative net margin of 784.35% and a negative return on equity of 834.40%. The company had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.30 million. On average, analysts predict that Ensysce Biosciences will post -1.43 earnings per share 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.