Ensysce Biosciences (OTCMKTS:ENSC) Stock Price Down 10.3%

Ensysce Biosciences, Inc. (OTCMKTS:ENSC – Get Rating) fell 10.3% during mid-day trading on Monday . The stock traded as low as $0.46 and last traded at $0.46. 391,254 shares changed hands during trading, a decline of 65% from the average session volume of 1,104,856 shares. The stock had previously closed at $0.51.

Ensysce Biosciences Trading Down 10.3 %

The firm’s 50-day moving average price is $0.55 and its 200-day moving average price is $1.04.

Ensysce Biosciences (OTCMKTS:ENSC – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $1.10 million.

Insider Activity at Ensysce Biosciences

In other news, CEO Lynn Kirkpatrick purchased 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were bought at an average cost of $0.49 per share, for a total transaction of $34,300.00. Following the acquisition, the chief executive officer now owns 354,851 shares of the company’s stock, valued at approximately $173,876.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Ensysce Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in Ensysce Biosciences in the 1st quarter worth about $328,000. BlackRock Inc. increased its holdings in Ensysce Biosciences by 41,654.0% during the first quarter. BlackRock Inc. now owns 234,240 shares of the company’s stock valued at $267,000 after buying an additional 233,679 shares during the period. Virtu Financial LLC bought a new position in Ensysce Biosciences in the first quarter worth approximately $28,000. Anson Funds Management LP purchased a new stake in Ensysce Biosciences during the first quarter worth $2,138,000. Finally, Powell Investment Advisors LLC bought a new stake in Ensysce Biosciences during the 1st quarter valued at $57,000.

About Ensysce Biosciences

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Ensysce Biosciences, Inc, a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid addiction, misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance platform, an over-dose protection opioid prodrug technology.

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