Greenwich LifeSciences (NASDAQ:GLSI) Shares Down 5.8% - Should You Sell?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI - Get Free Report)'s stock price dropped 5.8% on Friday . The company traded as low as $11.55 and last traded at $11.59. Approximately 154,544 shares traded hands during mid-day trading, an increase of 233% from the average daily volume of 46,360 shares. The stock had previously closed at $12.30.

Analyst Ratings Changes

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

Greenwich LifeSciences Stock Performance

The business's fifty day moving average price is $9.77 and its two-hundred day moving average price is $10.76. The firm has a market capitalization of $154.96 million, a P/E ratio of -9.20 and a beta of 1.63.

Greenwich LifeSciences (NASDAQ:GLSI - Get Free Report) last released its earnings results on Tuesday, May 20th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). Sell-side analysts predict that Greenwich LifeSciences, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other Greenwich LifeSciences news, CEO Snehal Patel purchased 3,600 shares of Greenwich LifeSciences stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $9.88 per share, with a total value of $35,568.00. Following the transaction, the chief executive officer owned 5,570,602 shares of the company's stock, valued at $55,037,547.76. This represents a 0.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 51.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Greenwich LifeSciences

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its position in 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 buying an additional 12,923 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Greenwich LifeSciences by 15.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,007 shares of the company's stock worth $181,000 after buying an additional 2,552 shares during the last quarter. Strs Ohio purchased a new position in Greenwich LifeSciences during the 1st quarter worth approximately $177,000. HighTower Advisors LLC purchased a new position in Greenwich LifeSciences during the 1st quarter worth approximately $147,000. Finally, Rhumbline Advisers raised its position in Greenwich LifeSciences by 48.7% during 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. 4.16% of the stock is owned by hedge funds and other institutional investors.

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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