Ensysce Biosciences (NASDAQ:ENSC) Shares Down 5.6% – Should You Sell?

Ensysce Biosciences, Inc. (NASDAQ:ENSC)’s share price was down 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 mid-day trading, a decline of 93% from the average daily volume of 520,825 shares. The stock had previously closed at $8.62.

Ensysce Biosciences Price Performance

The firm has a market capitalization of $10.63 million, a PE ratio of -0.30 and a beta of 0.60. The company’s fifty day simple moving average is $8.13 and its 200 day simple moving average is $6.61.

Ensysce Biosciences (NASDAQ:ENSC) last announced 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. Ensysce Biosciences had a negative net margin of 179.26% and a negative return on equity of 292.81%. The company had revenue of $3.42 million for the quarter, compared to analysts’ expectations of $0.25 million. On average, analysts anticipate that Ensysce Biosciences, Inc. will post -12.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ensysce Biosciences

An institutional investor recently bought a new position in Ensysce Biosciences stock. Anson Funds Management LP bought a new position in Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the 3rd quarter, according to the company in its most recent 13F filing with the 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 as of its most recent SEC filing. 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.