Greenwich LifeSciences (NASDAQ:GLSI) Stock Jumps 3.6% – Time to Buy?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shot up 3.6% during trading on Friday. The stock traded as high as $16.09 and last traded at $16.03. 86,519 shares traded hands during trading, a decline of 31% from the average daily volume of 125,349 shares. The stock had previously closed at $15.48.

Analyst Ratings Changes

GLSI has been the subject of several analyst reports. Weiss Ratings raised shares of Greenwich LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. HC Wainwright lifted their price objective on shares of Greenwich LifeSciences from $50.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $69.00.

Greenwich LifeSciences Stock Performance

The firm has a market cap of $235.32 million, a P/E ratio of -10.41 and a beta of 1.46. The firm has a 50 day simple moving average of $16.63 and a 200 day simple moving average of $19.89.

Greenwich LifeSciences (NASDAQ:GLSI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.06. Sell-side analysts predict that Greenwich LifeSciences, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GLSI. Ancora Advisors LLC purchased a new stake in shares of Greenwich LifeSciences in the second quarter worth $252,000. BlackRock Inc. purchased a new position in Greenwich LifeSciences during the second quarter worth about $11,398,000. Deutsche Bank AG purchased a new position in Greenwich LifeSciences during the second quarter worth about $126,000. Bank of New York Mellon Corp purchased a new position in Greenwich LifeSciences during the second quarter worth about $1,124,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Greenwich LifeSciences during the second quarter worth about $458,000. 4.16% of the stock is currently owned by hedge funds and other institutional investors.

About Greenwich LifeSciences

Greenwich LifeSciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies designed to reduce the risk of breast cancer recurrence. The company’s lead product candidate is GLSI-100, an investigational vaccine combining the HER2-derived peptide GP2 with granulocyte-macrophage colony-stimulating factor (GM-CSF).

GLSI-100 is being developed as an adjuvant therapy for patients with HER2-positive breast cancer who have completed standard treatment, including trastuzumab.