Greenwich LifeSciences (NASDAQ:GLSI) Releases Quarterly Earnings Results, Misses Expectations By $0.40 EPS

Greenwich LifeSciences (NASDAQ:GLSI) issued its earnings results on Tuesday. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.40), Zacks reports.

Greenwich LifeSciences Stock Down 3.6 %

GLSI traded down $0.33 during trading on Tuesday, hitting $8.95. 169,245 shares of the stock were exchanged, compared to its average volume of 62,320. The firm has a market capitalization of $117.65 million, a P/E ratio of -11.19 and a beta of 1.76. Greenwich LifeSciences has a 1-year low of $8.06 and a 1-year high of $18.75. The stock has a fifty day moving average price of $11.14 and a two-hundred day moving average price of $12.50.

Analysts Set New Price Targets

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

Insider Activity

In other Greenwich LifeSciences news, CEO Snehal Patel acquired 5,500 shares of the stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $8.73 per share, with a total value of $48,015.00. Following the transaction, the chief executive officer now owns 5,558,002 shares of the company’s stock, valued at approximately $48,521,357.46. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 51.67% of the company’s stock.

Institutional Investors Weigh In On Greenwich LifeSciences

An institutional investor recently raised its position in Greenwich LifeSciences stock. Bank of America Corp DE raised its stake in shares of Greenwich LifeSciences, Inc. (NASDAQ:GLSI) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,262 shares of the company’s stock after acquiring an additional 1,322 shares during the period. Bank of America Corp DE owned approximately 0.06% of Greenwich LifeSciences worth $82,000 as of its most recent SEC filing. 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.