Greenwich LifeSciences (NASDAQ:GLSI) Share Price Breaks Above 50 Day Moving Average - Here's Why

Key Points

• Greenwich LifeSciences shares rose 6.9%, reaching $17.44 and closing at $17.13, above the 50-day moving average of $16.66.
• Analyst sentiment remains mixed, with one Buy and one Sell rating producing a consensus Hold rating; HC Wainwright raised its price target from $50 to $69.
• The company reported a quarterly loss of $0.27 per share, better than the expected $0.33 loss, while institutional investors own 4.16% of the stock.

Greenwich LifeSciences, Inc. (NASDAQ:GLSI - Get Free Report) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $16.66 and traded as high as $17.44. Greenwich LifeSciences shares last traded at $17.13, with a volume of 118,761 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on GLSI. HC Wainwright boosted their price target on shares of Greenwich LifeSciences from $50.00 to $69.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Greenwich LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, October 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $69.00.

Greenwich LifeSciences Trading Up 6.9%

The firm has a market cap of $251.47 million, a P/E ratio of -11.12 and a beta of 1.46. The company's 50-day moving average is $16.66 and its two-hundred day moving average is $21.74.

Greenwich LifeSciences (NASDAQ:GLSI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.06. Research analysts anticipate that Greenwich LifeSciences, Inc. will post -1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GLSI. Deutsche Bank AG bought a new stake in Greenwich LifeSciences during the second quarter worth $126,000. Ancora Advisors LLC bought a new position in Greenwich LifeSciences during the 2nd quarter valued at $252,000. Strs Ohio lifted its stake in Greenwich LifeSciences by 140.4% during the 1st quarter. Strs Ohio now owns 13,700 shares of the company's stock valued at $329,000 after acquiring an additional 8,000 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Greenwich LifeSciences during the 2nd quarter worth $458,000. Finally, Sei Investments Co. purchased a new position in Greenwich LifeSciences during the 1st quarter worth $627,000. Hedge funds and other institutional investors own 4.16% of the company's stock.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies designed to reduce the risk of breast cancer recurrence. The company's lead product candidate is GLSI-100, an investigational vaccine combining the HER2-derived peptide GP2 with granulocyte-macrophage colony-stimulating factor (GM-CSF).

GLSI-100 is being developed as an adjuvant therapy for patients with HER2-positive breast cancer who have completed standard treatment, including trastuzumab.

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