Greenwich LifeSciences (NASDAQ:GLSI) Announces Quarterly Earnings Results

Key Points

• Greenwich LifeSciences reported an EPS of ($0.30) for the quarter, falling short of analysts' expectations of ($0.24) by ($0.06).
• The company's stock price rose to $12.17 with a market capitalization of $162.71 million and a PE ratio of -8.95.
• HC Wainwright increased its target price for Greenwich LifeSciences from $38.00 to $39.00 and maintained a "buy" rating.

Greenwich LifeSciences (NASDAQ:GLSI - Get Free Report) announced its earnings results on Thursday. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.06), Zacks reports.

Greenwich LifeSciences Stock Performance

Shares of Greenwich LifeSciences stock traded up $0.09 during midday trading on Friday, reaching $12.17. 19,800 shares of the company's stock traded hands, compared to its average volume of 61,385. The company has a market cap of $162.71 million, a PE ratio of -8.95 and a beta of 1.65. The stock has a 50 day moving average of $10.56 and a 200-day moving average of $10.62. Greenwich LifeSciences has a 12 month low of $8.06 and a 12 month high of $16.50.

Hedge Funds Weigh In On Greenwich LifeSciences

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 holdings in shares of Greenwich LifeSciences by 22.3% during the fourth quarter. Bank of America Corp DE now owns 7,262 shares of the company's stock valued at $82,000 after acquiring an additional 1,322 shares in the last quarter. Rhumbline Advisers raised its holdings in 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 purchasing an additional 3,168 shares in the last quarter. Strs Ohio bought a new position in Greenwich LifeSciences in the first quarter worth $177,000. Marshall Wace LLP bought a new position in Greenwich LifeSciences in the second quarter worth $509,000. Finally, Geode Capital Management LLC raised its holdings in 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 in the last quarter. Institutional investors own 4.16% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.

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