Greenwich LifeSciences (NASDAQ:GLSI) Shares Up 2.4% – Here’s Why

Greenwich LifeSciences, Inc. (NASDAQ:GLSI)’s stock price shot up 2.4% during mid-day trading on Tuesday . The company traded as high as $19.35 and last traded at $19.01. 93,500 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 139,999 shares. The stock had previously closed at $18.57.

Analyst Upgrades and Downgrades

GLSI has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Greenwich LifeSciences from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Greenwich LifeSciences in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.50.

Greenwich LifeSciences Trading Down 2.7%

The stock has a market capitalization of $279.03 million, a P/E ratio of -12.11 and a beta of 1.40. The business’s fifty day simple moving average is $23.56 and its two-hundred day simple moving average is $24.72.

Institutional Investors Weigh In On Greenwich LifeSciences

Several hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in Greenwich LifeSciences by 11.8% during the fourth quarter. Barclays PLC now owns 9,744 shares of the company’s stock valued at $205,000 after acquiring an additional 1,030 shares during the period. Bank of America Corp DE lifted its position in shares of Greenwich LifeSciences by 22.3% in the 4th quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock worth $82,000 after acquiring an additional 1,322 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Greenwich LifeSciences by 8.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 21,545 shares of the company’s stock worth $453,000 after acquiring an additional 1,700 shares during the period. Geode Capital Management LLC lifted its position in shares of Greenwich LifeSciences by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 138,982 shares of the company’s stock worth $1,261,000 after acquiring an additional 1,972 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Greenwich LifeSciences by 48.7% during the 1st quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock worth $92,000 after purchasing an additional 3,168 shares in the last quarter. Institutional investors own 4.16% of the company’s stock.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc (NASDAQ: GLSI) is a clinical-stage biotechnology company focused on the development of novel immune modulators for the treatment of cancer and autoimmune diseases. The company’s product pipeline includes candidates engineered to activate or regulate key components of the innate and adaptive immune systems, with programs advancing through preclinical and early-stage clinical studies.

Headquartered in Greenwich, Connecticut, Greenwich LifeSciences conducts its research and development activities primarily in the United States.