How Will the Market React to Ensysce Biosciences Inc (ENSC) Stock Getting a Bullish Rating

The market has been high on Ensysce Biosciences Inc (ENSC) stock recently. ENSC gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Ensysce Biosciences Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ENSC!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With ENSC Stock Today?

Ensysce Biosciences Inc (ENSC) stock is trading at $0.83 as of 2:38 PM on Monday, Mar 18, an increase of $0.04, or 4.6% from the previous closing price of $0.79. The stock has traded between $0.81 and $0.85 so far today. Volume today is less active than usual. So far 132,141 shares have traded compared to average volume of 349,436 shares. To see InvestorsObserver's Sentiment Score for Ensysce Biosciences Inc click here.

More About Ensysce Biosciences Inc

Ensysce Biosciences Inc is a clinical-stage biotech company using its proprietary technology platforms to develop safer prescription drugs. The company is developing a new class of powerful, tamper-proof opioids that prevent both drug abuse and overdoses. Ensysce's products are anticipated to provide safer options to treat severe pain and assist in preventing deaths caused by opioid abuse, reducing human and economic costs. Click Here to get the full Stock Report for Ensysce Biosciences Inc stock.