Greenwich LifeSciences (NASDAQ:GLSI) Stock Falls 2.1% – Time to Sell?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shares were down 2.1% on Friday. The stock traded as low as $16.60 and last traded at $16.98. 175,415 shares were traded during trading, an increase of 57% from the average session volume of 111,705 shares. The stock had previously closed at $17.35.

Analyst Upgrades and Downgrades

Several analysts have commented on GLSI shares. HC Wainwright boosted their price target on shares of 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 lowered Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings cut Greenwich LifeSciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Greenwich LifeSciences presently has an average rating of “Hold” and a consensus target price of $69.00.

Greenwich LifeSciences Trading Down 2.1%

The firm has a market capitalization of $249.27 million, a PE ratio of -11.03 and a beta of 1.46. The business’s 50 day simple moving average is $16.26 and its 200 day simple moving average is $20.84.

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

Insider Activity

In related news, CEO Snehal Patel bought 2,500 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was purchased at an average price of $13.14 per share, for a total transaction of $32,850.00. Following the acquisition, the chief executive officer owned 5,606,602 shares in the company, valued at $73,670,750.28. This trade represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 5,800 shares of company stock valued at $76,618. 51.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLSI. Deutsche Bank AG purchased a new stake in shares of Greenwich LifeSciences in the second quarter valued at $126,000. Ancora Advisors LLC bought a new position in Greenwich LifeSciences during the 2nd quarter valued at about $252,000. Strs Ohio grew its holdings in Greenwich LifeSciences by 140.4% during the 1st quarter. Strs Ohio now owns 13,700 shares of the company’s stock valued at $329,000 after purchasing an additional 8,000 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Greenwich LifeSciences in the 2nd quarter worth about $458,000. Finally, Virtu Financial LLC purchased a new stake in Greenwich LifeSciences in the 4th quarter worth about $605,000. 4.16% of the stock is owned by hedge funds and other institutional investors.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc is a clinical-stage biotechnology company focused on developing cancer immunotherapies. The company’s lead product candidate is nelipepimut-S (NPS), a peptide-based immunotherapy designed to stimulate an immune response against HER2/neu, a protein expressed in several types of cancer.

Greenwich LifeSciences has primarily studied NPS as an adjuvant treatment for patients with HER2-expressing breast cancer, including in combination with trastuzumab. Its clinical development program has included the Phase III PRESENT trial, which evaluated NPS in patients with early-stage breast cancer who had completed standard surgery and other indicated treatments.