Greenwich LifeSciences (NASDAQ:GLSI) Announces Earnings Results

Greenwich LifeSciences (NASDAQ:GLSI) released its earnings results on Tuesday. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06, FiscalAI reports.

Greenwich LifeSciences Stock Performance

GLSI stock traded up $0.97 during midday trading on Wednesday, reaching $16.52. 38,257 shares of the company’s stock traded hands, compared to its average volume of 236,415. The company has a 50-day moving average price of $18.99 and a two-hundred day moving average price of $23.48. Greenwich LifeSciences has a 52 week low of $7.78 and a 52 week high of $34.10. The firm has a market capitalization of $242.54 million, a PE ratio of -10.52 and a beta of 1.46.

Analyst Upgrades and Downgrades

GLSI has been the subject of several research reports. HC Wainwright increased their price target on Greenwich LifeSciences from $50.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Greenwich LifeSciences from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Greenwich LifeSciences in a research report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Greenwich LifeSciences presently has a consensus rating of “Hold” and a consensus price target of $57.00.

Insider Activity

In related news, CEO Snehal Patel purchased 2,500 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was purchased at an average cost of $13.14 per share, with a total value of $32,850.00. Following the completion of the acquisition, the chief executive officer directly owned 5,606,602 shares of the company’s stock, valued at approximately $73,670,750.28. The trade was a 0.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired a total of 5,800 shares of company stock worth $76,618 in the last quarter. Corporate insiders own 51.47% of the company’s stock.

Institutional Trading of Greenwich LifeSciences

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Greenwich LifeSciences by 22.3% during the 4th quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock valued at $82,000 after buying an additional 1,322 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Greenwich LifeSciences by 48.7% in the first quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock worth $92,000 after buying an additional 3,168 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Greenwich LifeSciences by 109.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,845 shares of the company’s stock worth $165,000 after buying an additional 4,102 shares in the last quarter. Strs Ohio bought a new position in shares of Greenwich LifeSciences in the first quarter valued at approximately $177,000. Finally, Jane Street Group LLC bought a new position in shares of Greenwich LifeSciences in the fourth quarter valued at approximately $203,000. 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.