Greenwich LifeSciences (NASDAQ:GLSI) Trading Down 4% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

Greenwich LifeSciences Price Performance

The company has a market capitalization of $152.61 million, a price-to-earnings ratio of -14.51 and a beta of 1.69. The stock has a 50 day moving average price of $12.42 and a two-hundred day moving average price of $13.24.

Insider Activity at Greenwich LifeSciences

In related news, CEO Snehal Patel bought 2,500 shares of Greenwich LifeSciences stock in a transaction on Friday, January 10th. The shares were purchased at an average price of $12.51 per share, for a total transaction of $31,275.00. Following the completion of the acquisition, the chief executive officer now owns 5,552,502 shares in the company, valued at approximately $69,461,800.02. This represents a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 9,500 shares of company stock worth $115,549 over the last 90 days. Insiders own 51.67% of the company’s stock.

Institutional Investors Weigh In On Greenwich LifeSciences

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Greenwich LifeSciences by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 133,550 shares of the company’s stock valued at $1,919,000 after buying an additional 5,861 shares during the last quarter. Northern Trust Corp raised its position in Greenwich LifeSciences by 17.3% in the 4th quarter. Northern Trust Corp now owns 87,423 shares of the company’s stock valued at $982,000 after buying an additional 12,923 shares during the last quarter. State Street Corp raised its position in Greenwich LifeSciences by 4.4% in the 3rd quarter. State Street Corp now owns 71,408 shares of the company’s stock valued at $1,026,000 after buying an additional 3,005 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in Greenwich LifeSciences in the 3rd quarter valued at approximately $253,000. Finally, Barclays PLC raised its position in Greenwich LifeSciences by 12.7% in the 4th quarter. Barclays PLC now owns 9,648 shares of the company’s stock valued at $108,000 after buying an additional 1,088 shares during the last quarter. Institutional investors and hedge funds own 4.16% of the company’s stock.

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.