Short Interest in Greenwich LifeSciences, Inc. (NASDAQ:GLSI) Expands By 8.3%

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 505,200 shares, a growth of 8.3% from the August 31st total of 466,600 shares. Based on an average daily volume of 46,500 shares, the days-to-cover ratio is currently 10.9 days. Currently, 8.5% of the shares of the stock are sold short.

Greenwich LifeSciences Price Performance

Shares of GLSI stock traded down $0.51 on Tuesday, hitting $13.86. The stock had a trading volume of 31,336 shares, compared to its average volume of 42,669. The company’s 50 day moving average price is $14.44 and its 200-day moving average price is $15.05. Greenwich LifeSciences has a 1 year low of $7.58 and a 1 year high of $21.44. The firm has a market capitalization of $178.52 million, a P/E ratio of -19.69 and a beta of 1.61.

Greenwich LifeSciences (NASDAQ:GLSI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). On average, equities analysts forecast that Greenwich LifeSciences will post -0.81 EPS for the current year.

Insider Buying and Selling

In other Greenwich LifeSciences news, CEO Snehal Patel bought 5,500 shares of the stock in a transaction on Monday, August 5th. The shares were bought at an average price of $13.18 per share, with a total value of $72,490.00. Following the purchase, the chief executive officer now directly owns 5,532,602 shares in the company, valued at approximately $72,919,694.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders bought 11,300 shares of company stock worth $160,500. 52.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Greenwich LifeSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Greenwich LifeSciences by 0.6% in the first quarter. Vanguard Group Inc. now owns 223,102 shares of the company’s stock valued at $4,449,000 after acquiring an additional 1,420 shares in the last quarter. Rhumbline Advisers purchased a new stake in Greenwich LifeSciences during the 2nd quarter worth about $117,000. Finally, Bank of New York Mellon Corp acquired a new stake in Greenwich LifeSciences in the 2nd quarter valued at about $264,000. Hedge funds and other institutional investors own 4.16% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright upped their price objective on shares of Greenwich LifeSciences from $36.00 to $38.00 and gave the company a “buy” rating in a report on Friday, August 23rd.

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.