Greenwich LifeSciences (NASDAQ:GLSI) Trading Down 6.7% – Here’s What Happened

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) fell 6.7% on Monday . The stock traded as low as $9.54 and last traded at $9.54. 61,636 shares changed hands during trading, an increase of 74% from the average session volume of 35,474 shares. The stock had previously closed at $10.22.

Wall Street Analyst Weigh In

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

Greenwich LifeSciences Price Performance

The company has a market cap of $125.40 million, a price-to-earnings ratio of -11.92 and a beta of 1.69. The firm’s 50 day simple moving average is $12.01 and its 200-day simple moving average is $12.93.

Insider Activity at Greenwich LifeSciences

In related news, CEO Snehal Patel purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of $12.51 per share, with a total value of $31,275.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,552,502 shares in the company, valued at $69,461,800.02. This trade represents a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased 6,300 shares of company stock worth $79,965 in the last quarter. Company insiders own 51.67% of the company’s stock.

Institutional Trading of Greenwich LifeSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Garden State Investment Advisory Services LLC acquired a new position in shares of Greenwich LifeSciences during the 3rd quarter worth $253,000. Northern Trust Corp lifted its position in shares of Greenwich LifeSciences by 17.3% in the fourth quarter. Northern Trust Corp now owns 87,423 shares of the company’s stock valued at $982,000 after acquiring an additional 12,923 shares in the last quarter. Barclays PLC lifted its holdings in Greenwich LifeSciences by 323.3% in 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Greenwich LifeSciences by 4.6% in the third 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. Finally, JPMorgan Chase & Co. boosted 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 worth $79,000 after acquiring an additional 4,465 shares during 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.