Greenwich LifeSciences (NASDAQ:GLSI) Announces Quarterly Earnings Results

Greenwich LifeSciences (NASDAQ:GLSI) released its quarterly earnings data on Friday. The company reported ($0.30) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.30), Zacks reports.

Greenwich LifeSciences Stock Up 1.5%

Shares of NASDAQ:GLSI traded up $0.12 on Friday, hitting $8.32. The company had a trading volume of 44,563 shares, compared to its average volume of 88,054. The firm’s 50-day simple moving average is $10.06 and its two-hundred day simple moving average is $10.33. The firm has a market capitalization of $115.23 million, a price-to-earnings ratio of -6.12 and a beta of 1.61. Greenwich LifeSciences has a 1 year low of $7.88 and a 1 year high of $15.47.

Insider Transactions at Greenwich LifeSciences

In related news, CEO Snehal Patel purchased 10,600 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $8.43 per share, with a total value of $89,358.00. Following the completion of the purchase, the chief executive officer directly owned 5,583,502 shares in the company, valued at approximately $47,068,921.86. This represents a 0.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 51.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GLSI. Bank of America Corp DE raised its position in shares of Greenwich LifeSciences by 22.3% in the 4th quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock worth $82,000 after acquiring an additional 1,322 shares in the last quarter. 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 worth $92,000 after buying an additional 3,168 shares during the last quarter. Strs Ohio bought a new position in shares of Greenwich LifeSciences during the 1st quarter valued at $177,000. Marshall Wace LLP bought a new stake in shares of Greenwich LifeSciences during the 2nd quarter valued at $509,000. Finally, Geode Capital Management LLC boosted its position 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 worth $1,261,000 after purchasing an additional 1,972 shares during the period. Hedge funds and other institutional investors own 4.16% of the company’s stock.

Analyst Upgrades and Downgrades

GLSI has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwich LifeSciences in a report on Tuesday, October 14th. Noble Financial initiated coverage on shares of Greenwich LifeSciences in a research report on Wednesday, August 20th. They issued an “outperform” rating and a $45.00 price objective on the stock. 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, Greenwich LifeSciences has an average rating of “Hold” and a consensus price target 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.