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

Greenwich LifeSciences (NASDAQ:GLSI)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $38.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 210.33% from the stock’s previous close.

Greenwich LifeSciences Trading Up 0.1 %

Shares of NASDAQ:GLSI traded up $0.02 during midday trading on Tuesday, reaching $12.25. The company had a trading volume of 8,664 shares, compared to its average volume of 36,183. The company’s 50 day moving average price is $12.73 and its 200 day moving average price is $13.57. The stock has a market cap of $161.02 million, a P/E ratio of -15.31 and a beta of 1.69. Greenwich LifeSciences has a 52-week low of $8.15 and a 52-week high of $21.44.

Insider Buying and Selling at Greenwich LifeSciences

In related news, CEO Snehal Patel purchased 3,200 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $11.12 per share, for a total transaction of $35,584.00. Following the completion of the transaction, the chief executive officer now directly owns 5,539,302 shares in the company, valued at approximately $61,597,038.24. This represents a 0.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 10,500 shares of company stock valued at $128,459 over the last three months. 51.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Greenwich LifeSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Greenwich LifeSciences by 323.3% during the third quarter. Barclays PLC now owns 8,560 shares of the company’s stock valued at $123,000 after buying an additional 6,538 shares during the period. Garden State Investment Advisory Services LLC bought a new position in shares of Greenwich LifeSciences in the third quarter worth approximately $253,000. State Street Corp increased its position in shares of Greenwich LifeSciences by 4.4% in the third 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 during the last quarter. Finally, Geode Capital Management LLC increased 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 worth $1,919,000 after purchasing an additional 5,861 shares during the last quarter. 4.16% of the stock is currently owned by 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.