Greenwich LifeSciences (NASDAQ:GLSI) Stock Price Up 2.4% – Should You Buy?

Shares of Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shot up 2.4% on Tuesday . The stock traded as high as $19.35 and last traded at $19.01. Approximately 93,500 shares traded hands during trading, a decline of 33% from the average session volume of 139,999 shares. The stock had previously closed at $18.57.

Analysts Set New Price Targets

A number of research firms have commented on GLSI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Greenwich LifeSciences in a research note on Friday, May 15th. Wall Street Zen lowered Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.50.

Greenwich LifeSciences Trading Up 2.4%

The stock has a market capitalization of $279.07 million, a price-to-earnings ratio of -12.11 and a beta of 1.40. The firm has a 50-day moving average of $23.63 and a 200-day moving average of $24.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Greenwich LifeSciences by 22.3% in 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 last quarter. Strs Ohio purchased a new stake in Greenwich LifeSciences in the first quarter valued at approximately $177,000. Rhumbline Advisers boosted its position in Greenwich LifeSciences by 48.7% in the first quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock valued at $92,000 after buying an additional 3,168 shares during the last quarter. Geode Capital Management LLC increased its holdings in Greenwich LifeSciences by 1.4% in 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 period. Finally, Marshall Wace LLP acquired a new position in Greenwich LifeSciences in the 2nd quarter worth approximately $509,000. 4.16% of the stock is owned by institutional investors and hedge funds.

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.