Greenwich LifeSciences (NASDAQ:GLSI) Shares Climb 3.6% - Time to Buy?

Key Points

• Greenwich LifeSciences shares rose 3.6% to $16.03, although trading volume was 31% below the average daily level.
• Analyst sentiment is mixed: HC Wainwright raised its price target to $69 and issued a Buy rating, while another analyst rated the stock Sell; the overall consensus is Hold.
• The clinical-stage biotech exceeded quarterly earnings expectations, reporting a loss of $0.27 per share versus the $0.33 expected, while developing GLSI-100, an investigational vaccine intended to reduce recurrence risk in HER2-positive breast cancer.

Greenwich LifeSciences, Inc. (NASDAQ:GLSI - Get Free Report)'s stock price traded up 3.6% during trading on Friday. The stock traded as high as $16.09 and last traded at $16.03. Approximately 86,519 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 125,349 shares. The stock had previously closed at $15.48.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings upgraded Greenwich LifeSciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, October 14th. HC Wainwright increased their price target on Greenwich LifeSciences from $50.00 to $69.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $69.00.

Greenwich LifeSciences Price Performance

The firm has a market cap of $235.32 million, a PE ratio of -10.41 and a beta of 1.46. The business's fifty day moving average is $16.63 and its 200-day moving average is $19.89.

Greenwich LifeSciences (NASDAQ:GLSI - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.06. Analysts forecast that Greenwich LifeSciences, Inc. will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Greenwich LifeSciences

Several institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new stake in Greenwich LifeSciences in the second quarter worth $252,000. BlackRock Inc. purchased a new position in shares of Greenwich LifeSciences during the 2nd quarter valued at $11,398,000. Deutsche Bank AG purchased a new position in shares of Greenwich LifeSciences during the 2nd quarter valued at $126,000. Bank of New York Mellon Corp purchased a new position in shares of Greenwich LifeSciences during the 2nd quarter valued at $1,124,000. Finally, GSA Capital Partners LLP bought a new position in shares of Greenwich LifeSciences during the 2nd quarter worth $458,000. 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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