Greenwich LifeSciences (NASDAQ:GLSI) Stock Price Down 1.6% – What’s Next?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) dropped 1.6% during mid-day trading on Wednesday . The company traded as low as $13.32 and last traded at $13.35. Approximately 28,088 shares changed 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.

Analysts Set New Price Targets

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

Greenwich LifeSciences Price Performance

The firm’s 50 day moving average price is $14.01 and its two-hundred day moving average price is $14.45. The firm has a market cap of $168.26 million, a price-to-earnings ratio of -17.20 and a beta of 1.62.

Greenwich LifeSciences (NASDAQ:GLSI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). On average, analysts anticipate that Greenwich LifeSciences, Inc. will post -0.81 earnings per share for the current year.

Hedge Funds Weigh In On Greenwich LifeSciences

A number of large investors have recently bought and sold shares of GLSI. Rhumbline Advisers purchased a new stake in shares of Greenwich LifeSciences in the second quarter valued at about $117,000. Bank of New York Mellon Corp acquired a new stake in Greenwich LifeSciences in the second quarter valued at about $264,000. Garden State Investment Advisory Services LLC acquired a new stake in Greenwich LifeSciences in the third quarter valued at about $253,000. Finally, Vanguard Group Inc. boosted its holdings in Greenwich LifeSciences by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 223,102 shares of the company’s stock valued at $4,449,000 after purchasing an additional 1,420 shares in the last quarter. Hedge funds and other institutional investors own 4.16% of the company’s stock.

Greenwich LifeSciences Company Profile

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.