Snehal Patel Purchases 2,300 Shares of Greenwich LifeSciences (NASDAQ:GLSI) Stock

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) CEO Snehal Patel acquired 2,300 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $9.26 per share, with a total value of $21,298.00. Following the purchase, the chief executive officer owned 5,572,902 shares of the company’s stock, valued at approximately $51,605,072.52. This trade represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Greenwich LifeSciences Stock Down 8.5%

NASDAQ GLSI opened at $8.43 on Tuesday. The firm has a market cap of $114.90 million, a price-to-earnings ratio of -6.20 and a beta of 1.61. The business has a 50-day moving average price of $10.61 and a 200-day moving average price of $10.43. Greenwich LifeSciences, Inc. has a twelve month low of $8.06 and a twelve month high of $15.47.

Greenwich LifeSciences (NASDAQ:GLSI) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). Research analysts expect that Greenwich LifeSciences, Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

GLSI has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenwich LifeSciences in a research note on Tuesday, October 14th. Noble Financial initiated coverage on Greenwich LifeSciences in a research note on Wednesday, August 20th. They set an “outperform” rating and a $45.00 price target for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $42.00.

Hedge Funds Weigh In On Greenwich LifeSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in Greenwich LifeSciences during the first quarter valued at approximately $147,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Greenwich LifeSciences by 15.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,007 shares of the company’s stock valued at $181,000 after purchasing an additional 2,552 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Greenwich LifeSciences in the 2nd quarter valued at approximately $509,000. Geode Capital Management LLC lifted its stake in shares of Greenwich LifeSciences by 1.4% in the 2nd 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 during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Greenwich LifeSciences in the 2nd quarter valued at approximately $25,000. 4.16% of the stock is owned by institutional investors.

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.