Greenwich LifeSciences (NASDAQ:GLSI) Releases Earnings Results, Misses Expectations By $0.06 EPS

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) released its quarterly earnings results on Thursday, August 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.06), Zacks reports.

Greenwich LifeSciences Price Performance

NASDAQ GLSI traded down $0.09 during trading hours on Thursday, hitting $11.85. The company's stock had a trading volume of 38,986 shares, compared to its average volume of 44,645. The company's 50-day simple moving average is $10.69 and its two-hundred day simple moving average is $10.60. Greenwich LifeSciences has a 52 week low of $8.06 and a 52 week high of $16.50.

Analysts Set New Price Targets

Separately, Noble Financial began coverage on Greenwich LifeSciences in a research report on Wednesday. They set an "outperform" rating and a $45.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Greenwich LifeSciences currently has a consensus rating of "Buy" and an average target price of $42.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of 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 during the last quarter. Marshall Wace LLP bought a new position in Greenwich LifeSciences during the second quarter valued at about $509,000. Strs Ohio purchased a new stake in Greenwich LifeSciences during the first quarter worth about $177,000. Rhumbline Advisers increased 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 buying an additional 3,168 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Greenwich LifeSciences by 22.3% during the fourth quarter. Bank of America Corp DE now owns 7,262 shares of the company's stock worth $82,000 after buying an additional 1,322 shares during the last quarter. Hedge funds and other institutional investors own 4.16% of the company's stock.

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.