Ensysce Biosciences Inc. [ENSC] is -91.21% lower this YTD. Is it still time to buy?

Ensysce Biosciences Inc. [NASDAQ: ENSC] price surged by 22.26 percent to reach at $0.07. The company report on September 8, 2022 that Ensysce Biosciences Announces Results of Special Meeting of Stockholders.


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Ensysce Biosciences, Inc. (“Ensysce” or the “Company”) (NASDAQ:ENSC)(OTC PINK:ENSCW), a clinical-stage biotech company applying transformative chemistry to improve prescription drug safety to reduce abuse and overdose, today announced the results of the special meeting of stockholders held September 8, 2022. This meeting was held virtually, and the following resolutions were submitted and adopted by the stockholders:

The approval of, for purposes of complying with Nasdaq Listing Rule 5635(d), the full issuance and exercise of shares of common stock issued by the Company to certain investors.

A sum of 10321358 shares traded at recent session while its average daily volume was at 1.28M shares. Ensysce Biosciences Inc. shares reached a high of $0.4579 and dropped to a low of $0.331 until finishing in the latest session at $0.41.

Guru’s Opinion on Ensysce Biosciences Inc. [ENSC]:

The Average True Range (ATR) for Ensysce Biosciences Inc. is set at 0.06 The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 0.00.

ENSC Stock Performance Analysis:

Ensysce Biosciences Inc. [ENSC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.48. With this latest performance, ENSC shares dropped by -14.84% in over the last four-week period, additionally sinking by -60.66% over the last 6 months – not to mention a drop of -87.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENSC stock in for the last two-week period is set at 47.39, with the RSI for the last a single of trading hit 51.45, and the three-weeks RSI is set at 45.64 for Ensysce Biosciences Inc. [ENSC]. The present Moving Average for the last 50 days of trading for this stock 0.5003, while it was recorded at 0.3655 for the last single week of trading, and 1.3449 for the last 200 days.

Insight into Ensysce Biosciences Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Ensysce Biosciences Inc. [ENSC] shares currently have an operating margin of -562.71 and a Gross Margin at +100.00. Ensysce Biosciences Inc.’s Net Margin is presently recorded at -823.62.

Ensysce Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

Ensysce Biosciences Inc. [ENSC] Insider Position Details

There are presently around $2 million, or 14.50% of ENSC stock, in the hands of institutional investors. The top three institutional holders of ENSC stocks are: HG VORA CAPITAL MANAGEMENT, LLC with ownership of 2,462,500, which is approximately 0% of the company’s market cap and around 33.90% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 356,325 shares of the stock with an approximate value of $0.15 million in ENSC stocks shares; and BLACKROCK INC., currently with $97000.0 in ENSC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Ensysce Biosciences Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 9 institutional holders increased their position in Ensysce Biosciences Inc. [NASDAQ:ENSC] by around 368,896 shares. Additionally, 6 investors decreased positions by around 1,779,602 shares, while 10 investors held positions by with 1,906,834 shares. The mentioned changes placed institutional holdings at 4,055,332 shares, according to the latest SEC report filing. ENSC stock had 4 new institutional investments in for a total of 253,942 shares, while 4 institutional investors sold positions of 47,737 shares during the same period.

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