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

HC Wainwright reiterated their buy rating on shares of Greenwich LifeSciences (NASDAQ:GLSI) in a report released on Tuesday morning,Benzinga reports. They currently have a $38.00 target price on the stock.

Greenwich LifeSciences Stock Performance

Shares of GLSI stock opened at $12.30 on Tuesday. The stock has a market capitalization of $161.75 million, a P/E ratio of -15.37 and a beta of 1.69. The company has a 50 day moving average price of $12.65 and a 200 day moving average price of $13.53. Greenwich LifeSciences has a fifty-two week low of $8.70 and a fifty-two week high of $21.44.

Insiders Place Their Bets

In other news, CEO Snehal Patel purchased 2,500 shares of the stock in a transaction on Friday, January 10th. The stock was bought at an average price of $12.51 per share, for a total transaction of $31,275.00. Following the acquisition, the chief executive officer now directly owns 5,552,502 shares of the company’s stock, valued at approximately $69,461,800.02. The trade was a 0.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought 10,500 shares of company stock worth $128,459 in the last 90 days. Corporate insiders own 51.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLSI. Geode Capital Management LLC lifted its position in shares of Greenwich LifeSciences by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 133,550 shares of the company’s stock worth $1,919,000 after buying an additional 5,861 shares during the last quarter. State Street Corp lifted its position in shares of Greenwich LifeSciences by 4.4% during the 3rd quarter. State Street Corp now owns 71,408 shares of the company’s stock worth $1,026,000 after buying an additional 3,005 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in shares of Greenwich LifeSciences during the 3rd quarter worth approximately $253,000. Barclays PLC lifted its position in shares of Greenwich LifeSciences by 12.7% during the 4th quarter. Barclays PLC now owns 9,648 shares of the company’s stock worth $108,000 after buying an additional 1,088 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 worth $79,000 after buying an additional 4,465 shares during the last quarter. Institutional investors and hedge funds 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.