Greenwich LifeSciences (NASDAQ:GLSI) Announces Earnings Results

Greenwich LifeSciences (NASDAQ:GLSI) announced its earnings results on Friday. The company reported ($0.30) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.30), Zacks reports.

Greenwich LifeSciences Stock Performance

Shares of NASDAQ:GLSI opened at $8.32 on Friday. The firm has a market cap of $115.23 million, a price-to-earnings ratio of -5.70 and a beta of 1.61. The business has a 50-day simple moving average of $10.06 and a two-hundred day simple moving average of $10.33. Greenwich LifeSciences has a fifty-two week low of $7.88 and a fifty-two week high of $15.47.

Insider Activity

In related news, CEO Snehal Patel purchased 10,600 shares of Greenwich LifeSciences stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $8.43 per share, for a total transaction of $89,358.00. Following the completion of the purchase, the chief executive officer directly owned 5,583,502 shares of the company’s stock, valued at $47,068,921.86. The trade was a 0.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 51.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Greenwich LifeSciences by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 282,181 shares of the company’s stock worth $2,808,000 after acquiring an additional 13,179 shares during the last quarter. Marshall Wace LLP bought a new position in Greenwich LifeSciences in the 2nd quarter worth $509,000. Geode Capital Management LLC lifted its position in Greenwich LifeSciences by 1.4% during the second quarter. Geode Capital Management LLC now owns 138,982 shares of the company’s stock valued at $1,261,000 after purchasing an additional 1,972 shares in the last quarter. Rhumbline Advisers lifted its position in Greenwich LifeSciences by 48.7% during the first quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock valued at $92,000 after purchasing an additional 3,168 shares in the last quarter. Finally, Strs Ohio bought a new stake in Greenwich LifeSciences during the first quarter valued at about $177,000. Institutional investors own 4.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Greenwich LifeSciences in a research note on Tuesday, October 14th. Noble Financial started coverage on Greenwich LifeSciences in a report on Wednesday, August 20th. They issued an “outperform” rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Greenwich LifeSciences has a consensus rating of “Hold” and an average target price of $42.00.

About Greenwich LifeSciences

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.