Greenwich LifeSciences (NASDAQ:GLSI) Trading Down 1.6% – Here’s What Happened

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) dropped 1.6% during mid-day trading on Wednesday . The stock traded as low as $13.32 and last traded at $13.35. Approximately 28,088 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 39,985 shares. The stock had previously closed at $13.57.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their target price on Greenwich LifeSciences from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd.

Greenwich LifeSciences Price Performance

The company has a market cap of $168.26 million, a PE ratio of -17.20 and a beta of 1.62. The business’s 50 day moving average is $14.01 and its 200-day moving average is $14.45.

Greenwich LifeSciences (NASDAQ:GLSI) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). As a group, sell-side analysts predict that Greenwich LifeSciences, Inc. will post -0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers purchased a new position in Greenwich LifeSciences in the second quarter valued at approximately $117,000. Garden State Investment Advisory Services LLC acquired a new position in shares of Greenwich LifeSciences in the 3rd quarter valued at $253,000. Bank of New York Mellon Corp purchased a new position in shares of Greenwich LifeSciences in the 2nd quarter valued at $264,000. Finally, Vanguard Group Inc. raised its stake in Greenwich LifeSciences by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 223,102 shares of the company’s stock worth $4,449,000 after acquiring an additional 1,420 shares in the last quarter. Hedge funds and other institutional investors 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.