Greenwich LifeSciences (NASDAQ:GLSI) Stock Falls 2.1% - Time to Sell?

Key Points

• GLSI shares fell 2.1% to $16.98 in above-average trading, with the stock remaining below its 200-day moving average of $20.84.
• Analyst sentiment is mixed: HC Wainwright raised its price target to $69 and maintained a Buy rating, while other ratings were downgraded to Sell. The overall consensus is Hold.
• Greenwich LifeSciences remains a clinical-stage biotechnology company developing the cancer immunotherapy nelipepimut-S; it reported a quarterly loss of $0.27 per share, better than the $0.33 consensus estimate.

Greenwich LifeSciences, Inc. (NASDAQ:GLSI - Get Free Report) shares were down 2.1% on Friday. The stock traded as low as $16.60 and last traded at $16.98. 175,415 shares were traded during trading, an increase of 57% from the average session volume of 111,705 shares. The stock had previously closed at $17.35.

Analyst Upgrades and Downgrades

Several analysts have commented on GLSI shares. HC Wainwright boosted their price target on shares of Greenwich LifeSciences from $50.00 to $69.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Wall Street Zen lowered Greenwich LifeSciences from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Finally, Weiss Ratings cut Greenwich LifeSciences from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Greenwich LifeSciences presently has an average rating of "Hold" and a consensus target price of $69.00.

Greenwich LifeSciences Trading Down 2.1%

The firm has a market capitalization of $249.27 million, a PE ratio of -11.03 and a beta of 1.46. The business's 50 day simple moving average is $16.26 and its 200 day simple moving average is $20.84.

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

Insider Activity

In related news, CEO Snehal Patel bought 2,500 shares of the company's stock in a transaction dated Thursday, July 23rd. The stock was purchased at an average price of $13.14 per share, for a total transaction of $32,850.00. Following the acquisition, the chief executive officer owned 5,606,602 shares in the company, valued at $73,670,750.28. This trade represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 5,800 shares of company stock valued at $76,618. 51.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLSI. Deutsche Bank AG purchased a new stake in shares of Greenwich LifeSciences in the second quarter valued at $126,000. Ancora Advisors LLC bought a new position in Greenwich LifeSciences during the 2nd quarter valued at about $252,000. Strs Ohio grew its holdings 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 purchasing an additional 8,000 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Greenwich LifeSciences in the 2nd quarter worth about $458,000. Finally, Virtu Financial LLC purchased a new stake in Greenwich LifeSciences in the 4th quarter worth about $605,000. 4.16% of the stock is owned by hedge funds and other institutional investors.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc is a clinical-stage biotechnology company focused on developing cancer immunotherapies. The company's lead product candidate is nelipepimut-S (NPS), a peptide-based immunotherapy designed to stimulate an immune response against HER2/neu, a protein expressed in several types of cancer.

Greenwich LifeSciences has primarily studied NPS as an adjuvant treatment for patients with HER2-expressing breast cancer, including in combination with trastuzumab. Its clinical development program has included the Phase III PRESENT trial, which evaluated NPS in patients with early-stage breast cancer who had completed standard surgery and other indicated treatments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.