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

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. HC Wainwright upped their price objective on Greenwich LifeSciences from $50.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings lowered shares of Greenwich LifeSciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.00.

Greenwich LifeSciences Price Performance

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

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

Insiders Place Their Bets

In other news, CEO Snehal Patel bought 2,500 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was acquired at an average cost of $13.14 per share, with a total value of $32,850.00. Following the transaction, the chief executive officer directly owned 5,606,602 shares in the company, valued at approximately $73,670,750.28. This trade represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders acquired 5,800 shares of company stock worth $76,618. Insiders own 51.47% of the company’s stock.

Institutional Trading of Greenwich LifeSciences

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Greenwich LifeSciences in the second quarter worth about $11,398,000. Bank of New York Mellon Corp purchased a new position in Greenwich LifeSciences during the 2nd quarter valued at about $1,124,000. Virtu Financial LLC bought a new stake in shares of Greenwich LifeSciences in the 4th quarter valued at about $605,000. Sei Investments Co. bought a new stake in shares of Greenwich LifeSciences in the 1st quarter valued at about $627,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Greenwich LifeSciences in the 2nd quarter worth approximately $458,000. 4.16% of the stock is currently owned by institutional investors.

About Greenwich LifeSciences

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.