Greenwich LifeSciences (NASDAQ:GLSI) Trading Up 11.6% – Should You Buy?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shares were up 11.6% during trading on Monday . The stock traded as high as $25.92 and last traded at $25.76. Approximately 173,509 shares traded hands during trading, an increase of 19% from the average daily volume of 145,659 shares. The stock had previously closed at $23.09.

Analysts Set New Price Targets

Several research firms recently commented on GLSI. Wall Street Zen raised Greenwich LifeSciences from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Greenwich LifeSciences in a research note on Monday, December 29th. Finally, HC Wainwright upped their target price on shares of Greenwich LifeSciences from $39.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Greenwich LifeSciences has a consensus rating of “Hold” and an average price target of $47.50.

Greenwich LifeSciences Price Performance

The stock has a market cap of $356.78 million, a price-to-earnings ratio of -17.64 and a beta of 1.50. The firm has a fifty day moving average of $25.90 and a 200 day moving average of $15.96.

Insider Activity

In related news, CEO Snehal Patel bought 1,800 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was acquired at an average cost of $29.83 per share, with a total value of $53,694.00. Following the purchase, the chief executive officer directly owned 5,604,102 shares of the company’s stock, valued at $167,170,362.66. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders acquired 16,000 shares of company stock valued at $340,167. 51.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Greenwich LifeSciences

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Greenwich LifeSciences by 22.3% during the fourth quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock worth $82,000 after purchasing an additional 1,322 shares during the period. Strs Ohio purchased a new stake in shares of Greenwich LifeSciences in the 1st quarter valued at approximately $177,000. Rhumbline Advisers increased its holdings in shares of Greenwich LifeSciences by 48.7% during the 1st quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock worth $92,000 after buying an additional 3,168 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Greenwich LifeSciences by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 138,982 shares of the company’s stock worth $1,261,000 after buying an additional 1,972 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Greenwich LifeSciences during the 2nd quarter valued at approximately $25,000. Hedge funds and other institutional investors own 4.16% of the company’s stock.

Greenwich LifeSciences Company Profile

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.