Insider Buying: Greenwich LifeSciences (NASDAQ:GLSI) CEO Purchases $21,298.00 in Stock

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) CEO Snehal Patel bought 2,300 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $9.26 per share, for a total transaction of $21,298.00. Following the completion of the acquisition, the chief executive officer directly owned 5,572,902 shares in the company, valued at approximately $51,605,072.52. The trade was a 0.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Greenwich LifeSciences Trading Down 1.8%

GLSI stock opened at $8.22 on Friday. The firm has a market capitalization of $113.85 million, a PE ratio of -6.04 and a beta of 1.61. Greenwich LifeSciences, Inc. has a one year low of $8.01 and a one year high of $15.47. The firm has a 50-day moving average of $10.40 and a two-hundred day moving average of $10.39.

Greenwich LifeSciences (NASDAQ:GLSI) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.06). On average, equities research analysts anticipate that Greenwich LifeSciences, Inc. will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On Greenwich LifeSciences

A number of hedge funds have recently added to or reduced their stakes in GLSI. Police & Firemen s Retirement System of New Jersey bought a new stake in Greenwich LifeSciences in the second quarter worth $25,000. Bank of America Corp DE lifted its position in shares of Greenwich LifeSciences by 22.3% in the fourth quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock worth $82,000 after buying an additional 1,322 shares during the last quarter. Rhumbline Advisers boosted its stake 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 acquiring an additional 3,168 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Greenwich LifeSciences during the 1st quarter valued at about $147,000. Finally, Strs Ohio bought a new position in shares of Greenwich LifeSciences in the 1st quarter valued at approximately $177,000. Institutional investors and hedge funds own 4.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on GLSI shares. Noble Financial began coverage on Greenwich LifeSciences in a research report on Wednesday, August 20th. They set an “outperform” rating and a $45.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwich LifeSciences in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.00.

Greenwich LifeSciences Company Profile

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.