Greenwich LifeSciences (NASDAQ:GLSI) Stock Price Down 6.7% – Here’s Why

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

Analyst Ratings Changes

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

Greenwich LifeSciences Stock Up 1.0 %

The stock has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $12.89. The firm has a market capitalization of $122.91 million, a P/E ratio of -11.69 and a beta of 1.69.

Insider Transactions at Greenwich LifeSciences

In other news, CEO Snehal Patel purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of $12.51 per share, with a total value of $31,275.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have purchased 6,300 shares of company stock valued at $79,965. 51.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Greenwich LifeSciences

Several large investors have recently bought and sold shares of GLSI. Wells Fargo & Company MN lifted its position in Greenwich LifeSciences by 54.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,847 shares of the company’s stock valued at $32,000 after purchasing an additional 1,008 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Greenwich LifeSciences during the 4th quarter valued at about $45,000. JPMorgan Chase & Co. raised its position in shares of Greenwich LifeSciences by 172.0% during the 4th quarter. JPMorgan Chase & Co. now owns 7,061 shares of the company’s stock valued at $79,000 after buying an additional 4,465 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Greenwich LifeSciences by 22.3% in the 4th quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock valued at $82,000 after acquiring an additional 1,322 shares during the last quarter. Finally, Barclays PLC grew its position in Greenwich LifeSciences by 12.7% in the fourth quarter. Barclays PLC now owns 9,648 shares of the company’s stock worth $108,000 after acquiring an additional 1,088 shares in the last quarter. 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.