Ensysce Biosciences (NASDAQ:ENSC) Stock Price Up 5.7% – Time to Buy?

Ensysce Biosciences, Inc. (NASDAQ:ENSC) shares traded up 5.7% during mid-day trading on Tuesday . The stock traded as high as $0.3922 and last traded at $0.3922. 367,432 shares were traded during trading, a decline of 86% from the average session volume of 2,543,370 shares. The stock had previously closed at $0.3712.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Ensysce Biosciences Price Performance

The stock’s fifty day moving average price is $0.80 and its 200-day moving average price is $1.61. The firm has a market cap of $1.42 million, a PE ratio of -0.06 and a beta of 1.17.

Institutional Trading of Ensysce Biosciences

A number of hedge funds have recently bought and sold shares of ENSC. TRU Independence Asset Management 2 LLC acquired a new position in shares of Ensysce Biosciences during the 3rd quarter worth approximately $25,000. Virtu Financial LLC acquired a new stake in shares of Ensysce Biosciences in the third quarter valued at approximately $34,000. Citadel Advisors LLC purchased a new position in Ensysce Biosciences during the third quarter worth approximately $34,000. DRW Securities LLC boosted its stake in Ensysce Biosciences by 42.4% during the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after buying an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Ensysce Biosciences by 100.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock valued at $138,000 after buying an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 5.63% of the company’s stock.

Ensysce Biosciences Company Profile

Ensysce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel prodrug therapies aimed at improving pain management and addressing opioid misuse. Leveraging its proprietary prodrug platform, the company designs drug candidates that convert into active pharmaceuticals through specific enzymatic action, providing controlled-release profiles and built-in abuse deterrence features.

The company’s lead product candidate, ENS100, is an investigational oral prodrug of hydrocodone engineered to reduce the potential for misuse and abuse compared to immediate-release opioid formulations.