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

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) dropped 0.7% during mid-day trading on Thursday . The company traded as low as $15.50 and last traded at $15.63. Approximately 46,663 shares were traded during trading, a decline of 65% from the average session volume of 134,119 shares. The stock had previously closed at $15.74.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GLSI. HC Wainwright upped their price objective on shares of Greenwich LifeSciences from $50.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Greenwich LifeSciences in a research report on Wednesday, August 12th. Finally, Wall Street Zen cut Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Greenwich LifeSciences has an average rating of “Hold” and an average target price of $69.00.

Greenwich LifeSciences Price Performance

The firm’s 50 day moving average price is $16.83 and its 200-day moving average price is $22.05. The stock has a market cap of $234.11 million, a P/E ratio of -10.36 and a beta of 1.47.

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

Insider Buying and Selling at Greenwich LifeSciences

In other news, CEO Snehal Patel bought 2,500 shares of the stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $13.14 per share, with a total value of $32,850.00. Following the completion of the acquisition, the chief executive officer owned 5,606,602 shares in the company, valued at $73,670,750.28. The trade was a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders acquired 5,800 shares of company stock worth $76,618. 51.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Greenwich LifeSciences

Several hedge funds and other institutional investors have recently modified their holdings of GLSI. BlackRock Inc. purchased a new stake in Greenwich LifeSciences in the 2nd quarter worth approximately $11,398,000. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Geode Capital Management LLC grew its position in shares of Greenwich LifeSciences by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 151,684 shares of the company’s stock worth $3,187,000 after purchasing an additional 9,568 shares in the last quarter. State Street Corp grew its position in shares of Greenwich LifeSciences by 19.3% during the fourth quarter. State Street Corp now owns 97,777 shares of the company’s stock worth $2,054,000 after purchasing an additional 15,831 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Greenwich LifeSciences during the 2nd quarter valued at approximately $509,000. 4.16% of the stock is currently owned by hedge funds and other institutional investors.

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.