Greenwich LifeSciences (NASDAQ:GLSI) Trading Down 6.7% – Here’s What Happened

Greenwich LifeSciences, Inc. (NASDAQ:GLSI)’s stock price traded down 6.7% during trading on Thursday . The company traded as low as $24.00 and last traded at $25.19. 303,582 shares changed hands during trading, a decline of 58% from the average session volume of 716,967 shares. The stock had previously closed at $27.01.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GLSI. HC Wainwright boosted their target price on shares of Greenwich LifeSciences from $39.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Greenwich LifeSciences in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Greenwich LifeSciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Greenwich LifeSciences presently has a consensus rating of “Hold” and an average price target of $47.50.

Greenwich LifeSciences Stock Performance

The company has a market cap of $401.65 million, a P/E ratio of -19.86 and a beta of 1.48. The business has a fifty day simple moving average of $20.10 and a 200 day simple moving average of $13.80.

Greenwich LifeSciences (NASDAQ:GLSI) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.30) EPS for the quarter, meeting the consensus estimate of ($0.30). Equities research analysts expect that Greenwich LifeSciences, Inc. will post -0.8 EPS for the current year.

Insider Activity

In other news, CEO Snehal Patel bought 4,600 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average cost of $8.37 per share, with a total value of $38,502.00. Following the completion of the acquisition, the chief executive officer directly owned 5,588,102 shares in the company, valued at approximately $46,772,413.74. The trade was a 0.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 20,600 shares of company stock valued at $378,669 in the last ninety days. Company insiders own 51.47% of the company’s stock.

Hedge Funds Weigh In On Greenwich LifeSciences

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Greenwich LifeSciences by 4.9% in the third quarter. Vanguard Group Inc. now owns 282,181 shares of the company’s stock worth $2,808,000 after acquiring an additional 13,179 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Greenwich LifeSciences by 1.4% in the second quarter. Geode Capital Management LLC now owns 138,982 shares of the company’s stock worth $1,261,000 after purchasing an additional 1,972 shares in the last quarter. Marshall Wace LLP acquired a new position in Greenwich LifeSciences during the second quarter worth $509,000. Citadel Advisors LLC increased its holdings in shares of Greenwich LifeSciences by 52.1% during the 3rd quarter. Citadel Advisors LLC now owns 20,942 shares of the company’s stock valued at $208,000 after acquiring an additional 7,174 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Greenwich LifeSciences in the first quarter valued at approximately $177,000. Institutional investors and hedge funds 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.