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

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

Analyst Upgrades and Downgrades

GLSI has been the subject of several research analyst reports. HC Wainwright increased their price objective on shares of Greenwich LifeSciences from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. Wall Street Zen upgraded shares of Greenwich LifeSciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Greenwich LifeSciences in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.50.

Greenwich LifeSciences Stock Performance

The firm’s 50 day simple moving average is $19.69 and its 200 day simple moving average is $13.68. The firm has a market capitalization of $349.01 million, a price-to-earnings ratio of -17.25 and a beta of 1.48.

Greenwich LifeSciences (NASDAQ:GLSI) last issued its earnings results on Friday, November 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.30). As a group, sell-side analysts forecast that Greenwich LifeSciences, Inc. will post -0.8 earnings per share for the current year.

Insider Activity at Greenwich LifeSciences

In related news, CEO Snehal Patel bought 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were purchased at an average cost of $29.83 per share, with a total value of $53,694.00. Following the completion of the acquisition, the chief executive officer directly owned 5,604,102 shares in the company, valued at approximately $167,170,362.66. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 20,600 shares of company stock valued at $378,669 in the last quarter. 51.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Greenwich LifeSciences

Several hedge funds have recently bought and sold shares of the stock. 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 purchasing an additional 7,174 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Greenwich LifeSciences by 4.9% during the third quarter. Vanguard Group Inc. now owns 282,181 shares of the company’s stock worth $2,808,000 after buying an additional 13,179 shares in the last quarter. Marshall Wace LLP acquired a new stake in Greenwich LifeSciences during the second quarter valued at $509,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Greenwich LifeSciences in the second quarter valued at $25,000. Finally, Geode Capital Management LLC increased 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 valued at $1,261,000 after buying an additional 1,972 shares in 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.