Greenwich LifeSciences (NASDAQ:GLSI) Trading Down 6.7% – Time to Sell?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI)’s stock price traded down 6.7% during mid-day trading on Thursday . The company traded as low as $24.00 and last traded at $25.19. Approximately 303,582 shares changed 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.

Wall Street Analyst Weigh In

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

Greenwich LifeSciences Price Performance

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

Greenwich LifeSciences (NASDAQ:GLSI) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.30). As a group, analysts anticipate that Greenwich LifeSciences, Inc. will post -0.8 EPS for the current year.

Insider Activity

In other news, CEO Snehal Patel bought 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were purchased at an average price of $29.83 per share, with a total value of $53,694.00. Following the purchase, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders acquired 20,600 shares of company stock valued at $378,669. 51.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GLSI. Vanguard Group Inc. lifted its holdings in Greenwich LifeSciences by 4.9% during the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,972 shares during the period. Citadel Advisors LLC grew its position in shares of Greenwich LifeSciences by 52.1% during the third quarter. Citadel Advisors LLC now owns 20,942 shares of the company’s stock worth $208,000 after acquiring an additional 7,174 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Greenwich LifeSciences in the 2nd quarter valued at $509,000. Finally, Rhumbline Advisers raised its position in Greenwich LifeSciences by 48.7% in the 1st quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock valued at $92,000 after purchasing an additional 3,168 shares during 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.