Insider Buying: Greenwich LifeSciences, Inc. (NASDAQ:GLSI) CEO Buys 5,400 Shares of Stock

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) CEO Snehal Patel acquired 5,400 shares of the firm’s stock in a transaction that occurred on Thursday, April 17th. The shares were bought at an average cost of $8.98 per share, with a total value of $48,492.00. Following the completion of the purchase, the chief executive officer now owns 5,567,002 shares of the company’s stock, valued at $49,991,677.96. This trade represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Snehal Patel also recently made the following trade(s):

• On Monday, April 7th, Snehal Patel bought 3,600 shares of Greenwich LifeSciences stock. The shares were bought at an average price of $9.10 per share, with a total value of $32,760.00.
• On Friday, April 4th, Snehal Patel purchased 5,500 shares of Greenwich LifeSciences stock. The stock was purchased at an average cost of $8.73 per share, with a total value of $48,015.00.

Greenwich LifeSciences Stock Performance

Shares of Greenwich LifeSciences stock opened at $9.69 on Tuesday. Greenwich LifeSciences, Inc. has a 52-week low of $8.06 and a 52-week high of $18.75. The firm has a market cap of $128.56 million, a PE ratio of -12.11 and a beta of 1.76. The business’s 50 day simple moving average is $10.82 and its 200 day simple moving average is $12.33.

Greenwich LifeSciences (NASDAQ:GLSI) last issued its quarterly earnings results on Tuesday, April 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.40). As a group, equities research analysts predict that Greenwich LifeSciences, Inc. will post -0.8 EPS for the current year.

Institutional Investors Weigh In On Greenwich LifeSciences

A number of institutional investors and hedge funds have recently made changes to their positions in GLSI. Wells Fargo & Company MN lifted its stake in Greenwich LifeSciences by 54.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,847 shares of the company’s stock valued at $32,000 after acquiring an additional 1,008 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Greenwich LifeSciences in the 4th quarter valued at about $45,000. JPMorgan Chase & Co. lifted its stake in Greenwich LifeSciences by 172.0% in the 4th quarter. JPMorgan Chase & Co. now owns 7,061 shares of the company’s stock valued at $79,000 after purchasing an additional 4,465 shares during the last quarter. Bank of America Corp DE grew its holdings in Greenwich LifeSciences by 22.3% during the fourth quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock worth $82,000 after purchasing an additional 1,322 shares during the period. Finally, Rhumbline Advisers grew its holdings in Greenwich LifeSciences by 48.7% during the first quarter. Rhumbline Advisers now owns 9,673 shares of the company’s stock worth $92,000 after purchasing an additional 3,168 shares during the period. Institutional investors own 4.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright increased their target price on Greenwich LifeSciences from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday.

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.