Greenwich LifeSciences, Inc. (NASDAQ:GLSI) Short Interest Up 8.7% in August

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 451,700 shares, an increase of 8.7% from the July 31st total of 415,600 shares. Based on an average daily trading volume, of 45,000 shares, the days-to-cover ratio is presently 10.0 days. Approximately 7.8% of the company’s shares are short sold.

Insider Transactions at Greenwich LifeSciences

In other Greenwich LifeSciences news, CEO Snehal Patel acquired 174,825 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $14.30 per share, with a total value of $2,499,997.50. Following the transaction, the chief executive officer now owns 5,525,602 shares in the company, valued at approximately $79,016,108.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders bought a total of 183,825 shares of company stock worth $2,627,473 over the last three months. 52.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Greenwich LifeSciences

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Greenwich LifeSciences by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 223,102 shares of the company’s stock worth $4,449,000 after acquiring an additional 1,420 shares during the last quarter. Rhumbline Advisers bought a new stake in Greenwich LifeSciences during the 2nd quarter worth approximately $117,000. Finally, Bank of New York Mellon Corp bought a new stake in Greenwich LifeSciences during the 2nd quarter worth approximately $264,000. 4.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective on shares of Greenwich LifeSciences from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, August 23rd.

Greenwich LifeSciences Price Performance

GLSI stock opened at $13.43 on Wednesday. The company’s 50-day moving average is $15.12 and its 200-day moving average is $15.00. The stock has a market capitalization of $176.60 million, a PE ratio of -18.65 and a beta of 1.64. Greenwich LifeSciences has a 1 year low of $7.58 and a 1 year high of $21.44.

Greenwich LifeSciences (NASDAQ:GLSI) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). On average, analysts anticipate that Greenwich LifeSciences will post -0.81 earnings per share for the current fiscal year.

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.