HC Wainwright Reiterates Buy Rating for Greenwich LifeSciences (NASDAQ:GLSI)

Greenwich LifeSciences (NASDAQ:GLSI - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $38.00 target price on the stock. HC Wainwright's price target would suggest a potential upside of 206.95% from the stock's previous close. HC Wainwright also issued estimates for Greenwich LifeSciences' FY2024 earnings at ($0.80) EPS and FY2025 earnings at ($0.81) EPS.

Greenwich LifeSciences Trading Up 0.7 %

Greenwich LifeSciences stock traded up $0.08 during midday trading on Tuesday, hitting $12.38. The stock had a trading volume of 14,862 shares, compared to its average volume of 34,628. Greenwich LifeSciences has a 52-week low of $9.91 and a 52-week high of $21.44. The company has a market capitalization of $162.80 million, a PE ratio of -15.47 and a beta of 1.69. The firm's fifty day moving average is $12.60 and its two-hundred day moving average is $13.50.

Insider Activity

In other Greenwich LifeSciences news, CEO Snehal Patel acquired 2,500 shares of the company's stock in a transaction dated Friday, January 10th. The stock was purchased at an average price of $12.51 per share, with a total value of $31,275.00. Following the completion of the purchase, the chief executive officer now directly owns 5,552,502 shares in the company, valued at approximately $69,461,800.02. The trade was a 0.05 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 10,500 shares of company stock worth $128,459 in the last three months. Company insiders own 51.67% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Greenwich LifeSciences by 4.6% during 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. Northern Trust Corp increased its holdings 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 acquiring an additional 12,923 shares during the last quarter. State Street Corp lifted its stake in Greenwich LifeSciences by 4.4% in the 3rd quarter. State Street Corp now owns 71,408 shares of the company's stock worth $1,026,000 after purchasing an additional 3,005 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of Greenwich LifeSciences during the 3rd quarter valued at about $253,000. Finally, Barclays PLC grew its position in shares of Greenwich LifeSciences by 12.7% during the fourth quarter. Barclays PLC now owns 9,648 shares of the company's stock valued at $108,000 after purchasing an additional 1,088 shares in the last quarter. 4.16% of the stock is owned by hedge funds and other institutional investors.

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.