Greenwich LifeSciences (NASDAQ:GLSI) Releases Quarterly Earnings Results, Misses Estimates By $0.40 EPS

Greenwich LifeSciences (NASDAQ:GLSI) released its quarterly earnings results on Tuesday. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.40), Zacks reports.

Greenwich LifeSciences Price Performance

Shares of NASDAQ GLSI traded down $0.33 during mid-day trading on Tuesday, hitting $8.95. 169,244 shares of the company’s stock traded hands, compared to its average volume of 43,608. The company’s 50-day moving average is $11.14 and its two-hundred day moving average is $12.50. Greenwich LifeSciences has a 1 year low of $8.06 and a 1 year high of $18.75. The company has a market capitalization of $117.65 million, a P/E ratio of -11.19 and a beta of 1.76.

Insider Transactions at Greenwich LifeSciences

In related news, CEO Snehal Patel purchased 5,500 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average cost of $8.73 per share, for a total transaction of $48,015.00. Following the completion of the acquisition, the chief executive officer now owns 5,558,002 shares in the company, valued at approximately $48,521,357.46. This trade represents a 0.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 51.67% of the company’s stock.

Institutional Investors Weigh In On Greenwich LifeSciences

A hedge fund recently raised its stake in Greenwich LifeSciences stock. Bank of America Corp DE boosted its stake in shares of Greenwich LifeSciences, Inc. (NASDAQ:GLSI) by 22.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,262 shares of the company’s stock after purchasing an additional 1,322 shares during the quarter. Bank of America Corp DE owned about 0.06% of Greenwich LifeSciences worth $82,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 4.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Greenwich LifeSciences in a research note on Tuesday, February 11th.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc, a clinical-stage biopharmaceutical company, develops novel cancer immunotherapies for breast cancer and other HER2/neu-expressing cancers. Its lead product candidate is GP2, an immunotherapy, which is in Phase III clinical trial to prevent breast cancer recurrences in patients who have previously undergone surgery.