Greenwich LifeSciences (NASDAQ:GLSI) Trading Down 4% – Here’s Why

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shares traded down 4% during mid-day trading on Monday . The stock traded as low as $11.30 and last traded at $11.61. 19,728 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 30,376 shares. The stock had previously closed at $12.10.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $38.00 target price on shares of Greenwich LifeSciences in a research note on Tuesday, February 11th.

Greenwich LifeSciences Stock Up 0.3 %

The firm’s 50-day moving average price is $12.43 and its 200-day moving average price is $13.21. The company has a market cap of $153.93 million, a P/E ratio of -14.64 and a beta of 1.69.

Insider Buying and Selling at Greenwich LifeSciences

In other news, CEO Snehal Patel bought 3,200 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $11.12 per share, with a total value of $35,584.00. Following the acquisition, the chief executive officer now owns 5,539,302 shares of the company’s stock, valued at approximately $61,597,038.24. The trade was a 0.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired 9,500 shares of company stock valued at $115,549 in the last 90 days. 51.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Greenwich LifeSciences

Institutional investors have recently added to or reduced their stakes in the business. Garden State Investment Advisory Services LLC bought a new position in Greenwich LifeSciences in the third quarter valued at $253,000. State Street Corp increased its position in shares of Greenwich LifeSciences by 4.4% during the 3rd quarter. State Street Corp now owns 71,408 shares of the company’s stock valued at $1,026,000 after purchasing an additional 3,005 shares during the last quarter. Barclays PLC increased its position in shares of Greenwich LifeSciences by 323.3% during the 3rd quarter. Barclays PLC now owns 8,560 shares of the company’s stock valued at $123,000 after purchasing an additional 6,538 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Greenwich LifeSciences by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 133,550 shares of the company’s stock valued at $1,919,000 after purchasing an additional 5,861 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Greenwich LifeSciences by 172.0% during the fourth quarter. JPMorgan Chase & Co. now owns 7,061 shares of the company’s stock valued at $79,000 after acquiring an additional 4,465 shares during the last quarter. 4.16% of the stock is currently owned by institutional investors.

About Greenwich LifeSciences

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.