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

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shares fell 0.7% during trading 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 daily volume of 134,119 shares. The stock had previously closed at $15.74.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright boosted 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. Weiss Ratings restated a “sell (d-)” rating on shares of Greenwich LifeSciences in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.00.

Greenwich LifeSciences Stock Performance

The business has a 50-day simple moving average of $16.91 and a two-hundred day simple moving average of $22.09. The company has a market capitalization of $229.45 million, a price-to-earnings ratio of -10.15 and a beta of 1.47.

Greenwich LifeSciences (NASDAQ:GLSI) last announced its quarterly earnings data 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. Research analysts predict that Greenwich LifeSciences, Inc. will post -1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Greenwich LifeSciences news, CEO Snehal Patel acquired 2,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 5,606,602 shares of the company’s stock, valued at $73,670,750.28. The trade was a 0.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 5,800 shares of company stock worth $76,618 over the last quarter. Corporate insiders own 51.47% of the company’s stock.

Institutional Trading of Greenwich LifeSciences

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in Greenwich LifeSciences by 522.7% in the second quarter. California State Teachers Retirement System now owns 2,111 shares of the company’s stock valued at $50,000 after buying an additional 1,772 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Greenwich LifeSciences in the 2nd quarter worth approximately $126,000. Bank of America Corp DE increased its stake in Greenwich LifeSciences by 22.3% in the 4th quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock valued at $82,000 after purchasing an additional 1,322 shares in the last quarter. Wells Fargo & Company MN increased its stake in Greenwich LifeSciences by 109.6% in the 4th quarter. Wells Fargo & Company MN now owns 7,845 shares of the company’s stock valued at $165,000 after purchasing an additional 4,102 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in 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 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.