Ensysce Biosciences (NASDAQ:ENSC) Stock Price Down 5.6% – Here’s What Happened

Shares of Ensysce Biosciences, Inc. (NASDAQ:ENSCGet Free Report) dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $7.73 and last traded at $8.14. Approximately 36,447 shares changed hands during trading, a decline of 93% from the average daily volume of 520,825 shares. The stock had previously closed at $8.62.

Ensysce Biosciences Trading Up 1.4 %

The stock has a market capitalization of $10.77 million, a price-to-earnings ratio of -0.30 and a beta of 0.60. The stock has a 50-day simple moving average of $8.24 and a 200 day simple moving average of $6.63.

Ensysce Biosciences (NASDAQ:ENSCGet Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $1.05 earnings per share (EPS) 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. Sell-side analysts expect that Ensysce Biosciences, Inc. will post -12.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ensysce Biosciences stock. Anson Funds Management LP purchased a new position in shares of Ensysce Biosciences, Inc. (NASDAQ:ENSCFree Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 983,518 shares of the company’s stock, valued at approximately $236,000. Anson Funds Management LP owned 11.15% of Ensysce Biosciences as of its most recent filing with the Securities & Exchange Commission. 5.63% of the stock is owned by institutional investors and hedge funds.

About Ensysce Biosciences

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Ensysce Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ensysce Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.