Greenwich LifeSciences, Inc. (NASDAQ:GLSI) Sees Significant Increase in Short Interest

Greenwich LifeSciences, Inc. (NASDAQ:GLSI - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 910,700 shares, an increase of 22.5% from the March 31st total of 743,300 shares. Currently, 15.3% of the company's shares are sold short. Based on an average trading volume of 69,700 shares, the days-to-cover ratio is presently 13.1 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright upped their price target on Greenwich LifeSciences from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, April 21st.

Greenwich LifeSciences Stock Up 2.1 %

GLSI stock traded up $0.20 during midday trading on Thursday, hitting $9.64. The company's stock had a trading volume of 35,596 shares, compared to its average volume of 45,700. The firm has a 50-day simple moving average of $10.25 and a 200-day simple moving average of $12.01. Greenwich LifeSciences has a 52-week low of $8.06 and a 52-week high of $18.75. The firm has a market capitalization of $127.89 million, a P/E ratio of -12.04 and a beta of 1.74.

Greenwich LifeSciences (NASDAQ:GLSI - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.40). On average, sell-side analysts expect that Greenwich LifeSciences will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Snehal Patel bought 5,500 shares of Greenwich LifeSciences stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $8.73 per share, with a total value of $48,015.00. Following the completion of the purchase, the chief executive officer now directly owns 5,558,002 shares of the company's stock, valued at approximately $48,521,357.46. This trade represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have bought 18,100 shares of company stock valued at $164,835. 51.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Greenwich LifeSciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Greenwich LifeSciences by 17.3% during the 4th quarter. Northern Trust Corp now owns 87,423 shares of the company's stock worth $982,000 after acquiring an additional 12,923 shares in the last quarter. Barclays PLC raised its holdings in Greenwich LifeSciences by 323.3% during the third quarter. Barclays PLC now owns 8,560 shares of the company's stock worth $123,000 after purchasing an additional 6,538 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Greenwich LifeSciences by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 133,550 shares of the company's stock worth $1,919,000 after buying an additional 5,861 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Greenwich LifeSciences by 172.0% in the 4th quarter. JPMorgan Chase & Co. now owns 7,061 shares of the company's stock valued at $79,000 after buying an additional 4,465 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Greenwich LifeSciences in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 4.16% of the company's stock.

About Greenwich LifeSciences

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.