Greenwich LifeSciences, Inc. (NASDAQ:GLSI) Sees Large Growth in Short Interest

Greenwich LifeSciences, Inc. (NASDAQ:GLSIGet Rating) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 319,500 shares, a growth of 59.8% from the March 15th total of 200,000 shares. Currently, 3.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 64,600 shares, the short-interest ratio is presently 4.9 days.

GLSI stock traded down $0.60 during mid-day trading on Friday, hitting $17.16. The company had a trading volume of 29,422 shares, compared to its average volume of 50,360. Greenwich LifeSciences has a 12-month low of $15.52 and a 12-month high of $48.96. The company has a 50-day moving average price of $19.98 and a 200 day moving average price of $26.55.

In other news, CEO Snehal Patel bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 4th. The stock was bought at an average price of $19.59 per share, with a total value of $97,950.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 12,300 shares of company stock valued at $238,581 in the last ninety days. 68.93% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in GLSI. Renaissance Technologies LLC purchased a new stake in Greenwich LifeSciences in the 4th quarter worth $730,000. BlackRock Inc. lifted its stake in Greenwich LifeSciences by 9.2% in the 4th quarter. BlackRock Inc. now owns 237,959 shares of the company’s stock worth $5,790,000 after purchasing an additional 20,105 shares in the last quarter. Marshall Wace LLP purchased a new stake in Greenwich LifeSciences in the 4th quarter worth $431,000. Millennium Management LLC lifted its stake in Greenwich LifeSciences by 101.4% in the 4th quarter. Millennium Management LLC now owns 30,414 shares of the company’s stock worth $740,000 after purchasing an additional 15,316 shares in the last quarter. Finally, Tibra Equities Europe Ltd purchased a new stake in shares of Greenwich LifeSciences during the 3rd quarter valued at about $496,000. Institutional investors and hedge funds own 6.25% of the company’s stock.

Separately, Zacks Investment Research raised shares of Greenwich LifeSciences from a “sell” rating to a “hold” rating in a report on Friday.

About Greenwich LifeSciences (Get Rating)

Greenwich LifeSciences, Inc, a clinical stage biopharmaceutical company, focuses on the development of novel cancer immunotherapies for breast cancer and other HER2/neu-expressing cancers. Its lead product candidate is the GP2, an immunotherapy, which has completed Phase IIb clinical trial to prevent recurrence of breast cancer following surgery.

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