HC Wainwright Forecasts Strong Price Appreciation for Greenwich LifeSciences (NASDAQ:GLSI) Stock

Greenwich LifeSciences (NASDAQ:GLSI) had its target price boosted by equities research analysts at HC Wainwright from $50.00 to $69.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 377.15% from the company’s previous close.

GLSI has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Greenwich LifeSciences in a report on Friday, May 15th. Wall Street Zen lowered shares of Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $57.00.

Greenwich LifeSciences Price Performance

Shares of NASDAQ GLSI traded up $0.39 during trading hours on Tuesday, hitting $14.46. 173,132 shares of the company’s stock were exchanged, compared to its average volume of 248,992. Greenwich LifeSciences has a 1-year low of $7.78 and a 1-year high of $34.10. The stock has a market capitalization of $212.29 million, a price-to-earnings ratio of -9.21 and a beta of 1.40. The company’s 50-day moving average price is $23.13 and its 200-day moving average price is $24.60.

Hedge Funds Weigh In On Greenwich LifeSciences

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Greenwich LifeSciences by 22.3% in the fourth quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock valued at $82,000 after purchasing an additional 1,322 shares during the last quarter. Rhumbline Advisers grew its position in Greenwich LifeSciences by 48.7% in 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. Wells Fargo & Company MN grew its position in Greenwich LifeSciences by 109.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,845 shares of the company’s stock valued at $165,000 after purchasing an additional 4,102 shares in the last quarter. Strs Ohio acquired a new stake in Greenwich LifeSciences in the 1st quarter valued at $177,000. Finally, Jane Street Group LLC acquired a new stake in Greenwich LifeSciences in the 4th quarter valued at $203,000. Institutional investors and hedge funds own 4.16% of the company’s stock.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc (NASDAQ: GLSI) is a clinical-stage biotechnology company focused on the development of novel immune modulators for the treatment of cancer and autoimmune diseases. The company’s product pipeline includes candidates engineered to activate or regulate key components of the innate and adaptive immune systems, with programs advancing through preclinical and early-stage clinical studies.

Headquartered in Greenwich, Connecticut, Greenwich LifeSciences conducts its research and development activities primarily in the United States.