Greenwich LifeSciences (NASDAQ:GLSI) Posts Earnings Results, Hits Expectations

Greenwich LifeSciences (NASDAQ:GLSI) released its earnings results on Friday. The company reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30), Zacks reports.

Greenwich LifeSciences Trading Up 1.5%

NASDAQ:GLSI traded up $0.12 during mid-day trading on Friday, reaching $8.32. 44,563 shares of the stock were exchanged, compared to its average volume of 88,054. Greenwich LifeSciences has a 1-year low of $7.88 and a 1-year high of $15.47. The business has a fifty day moving average price of $10.06 and a 200 day moving average price of $10.33. The firm has a market capitalization of $115.23 million, a PE ratio of -6.12 and a beta of 1.61.

Insider Buying and Selling at Greenwich LifeSciences

In related news, CEO Snehal Patel bought 10,600 shares of Greenwich LifeSciences stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $8.43 per share, for a total transaction of $89,358.00. Following the acquisition, the chief executive officer owned 5,583,502 shares in the company, valued at $47,068,921.86. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 51.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLSI. Vanguard Group Inc. raised its position 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 purchasing an additional 13,179 shares during the last quarter. Geode Capital Management LLC increased its stake in Greenwich LifeSciences by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 138,982 shares of the company’s stock valued at $1,261,000 after purchasing an additional 1,972 shares in the last quarter. Marshall Wace LLP bought a new position in Greenwich LifeSciences in the 2nd quarter valued at about $509,000. Strs Ohio purchased a new stake in Greenwich LifeSciences in the 1st quarter valued at about $177,000. Finally, Rhumbline Advisers lifted its holdings in Greenwich LifeSciences by 48.7% during the first quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock worth $92,000 after acquiring an additional 3,168 shares during the period. Institutional investors and hedge funds own 4.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Noble Financial started coverage on shares of Greenwich LifeSciences in a research note on Wednesday, August 20th. They issued an “outperform” rating and a $45.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Greenwich LifeSciences in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.00.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc, a clinical-stage biopharmaceutical company, develops novel cancer immunotherapies for breast cancer and other HER2/neu-expressing cancers. Its lead product candidate is GP2, an immunotherapy, which is in Phase III clinical trial to prevent breast cancer recurrences in patients who have previously undergone surgery.