Ensysce Biosciences (NASDAQ:ENSC) Shares Down 5.6% – What’s Next?

Ensysce Biosciences, Inc. (NASDAQ:ENSC)’s stock price traded down 5.6% during trading on Wednesday . The stock traded as low as $7.73 and last traded at $8.14. 36,447 shares were traded during trading, a decline of 93% from the average session volume of 520,825 shares. The stock had previously closed at $8.62.

Ensysce Biosciences Price Performance

The stock has a fifty day moving average of $8.24 and a two-hundred day moving average of $6.63. The firm has a market capitalization of $10.77 million, a price-to-earnings ratio of -0.30 and a beta of 0.60.

Ensysce Biosciences (NASDAQ:ENSC) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.42 million during the quarter, compared to the consensus estimate of $0.25 million. On average, research analysts forecast that Ensysce Biosciences, Inc. will post -12.44 EPS for the current year.

Institutional Trading of Ensysce Biosciences

A hedge fund recently bought a new stake in Ensysce Biosciences stock. Anson Funds Management LP bought a new stake in shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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. 5.63% of the stock is owned by institutional investors and hedge funds.

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.