Greenwich LifeSciences (NASDAQ:GLSI) Shares Down 0.7% – What’s Next?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) fell 0.7% on Thursday . The company traded as low as $15.50 and last traded at $15.63. 46,663 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 134,119 shares. The stock had previously closed at $15.74.

Analyst Ratings Changes

Several research firms recently issued reports on GLSI. HC Wainwright increased their target price on Greenwich LifeSciences from $50.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Greenwich LifeSciences in a research note on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Greenwich LifeSciences has a consensus rating of “Hold” and a consensus target price of $69.00.

Greenwich LifeSciences Price Performance

The firm has a market capitalization of $229.45 million, a price-to-earnings ratio of -10.15 and a beta of 1.47. The firm has a 50 day moving average price of $16.91 and a 200-day moving average price of $22.09.

Greenwich LifeSciences (NASDAQ:GLSI) last released its earnings results on Tuesday, August 11th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.06. Equities research analysts predict that Greenwich LifeSciences, Inc. will post -1.38 earnings per share for the current year.

Insider Activity at Greenwich LifeSciences

In other news, CEO Snehal Patel bought 2,500 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were purchased at an average cost of $13.14 per share, for a total transaction of $32,850.00. Following the completion of the purchase, the chief executive officer owned 5,606,602 shares of the company’s stock, valued at approximately $73,670,750.28. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 5,800 shares of company stock worth $76,618 over the last three months. Insiders own 51.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GLSI. California State Teachers Retirement System increased its position in shares of Greenwich LifeSciences by 522.7% in the 2nd quarter. California State Teachers Retirement System now owns 2,111 shares of the company’s stock valued at $50,000 after purchasing an additional 1,772 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Greenwich LifeSciences by 22.3% during the 4th quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock worth $82,000 after purchasing an additional 1,322 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Greenwich LifeSciences by 48.7% during the first quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock worth $92,000 after purchasing an additional 3,168 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Greenwich LifeSciences during the second quarter worth $126,000. Finally, Wells Fargo & Company MN increased its holdings 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 buying an additional 4,102 shares during the last quarter. Hedge funds and other institutional investors own 4.16% of the company’s stock.

About Greenwich LifeSciences

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.