Insider Buying: Greenwich LifeSciences (NASDAQ:GLSI) CEO Acquires $14,168.00 in Stock

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) CEO Snehal Patel acquired 1,100 shares of Greenwich LifeSciences stock in a transaction on Friday, July 24th. The shares were purchased at an average price of $12.88 per share, with a total value of $14,168.00. Following the completion of the purchase, the chief executive officer owned 5,607,702 shares in the company, valued at $72,227,201.76. This represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, July 29th, Snehal Patel bought 700 shares of Greenwich LifeSciences stock. The stock was purchased at an average cost of $13.10 per share, with a total value of $9,170.00.
• On Monday, July 27th, Snehal Patel bought 1,500 shares of Greenwich LifeSciences stock. The stock was purchased at an average price of $13.62 per share, for a total transaction of $20,430.00.
• On Thursday, July 23rd, Snehal Patel purchased 2,500 shares of Greenwich LifeSciences stock. The shares were purchased at an average price of $13.14 per share, for a total transaction of $32,850.00.

Greenwich LifeSciences Stock Up 9.5%

Shares of GLSI opened at $14.02 on Friday. The company has a market capitalization of $205.79 million, a P/E ratio of -8.93 and a beta of 1.40. The firm has a 50 day moving average of $21.07 and a 200 day moving average of $24.12. Greenwich LifeSciences, Inc. has a twelve month low of $7.78 and a twelve month high of $34.10.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Greenwich LifeSciences in a report on Friday, May 15th. Wall Street Zen downgraded Greenwich LifeSciences from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, HC Wainwright increased their price objective on Greenwich LifeSciences from $50.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Greenwich LifeSciences presently has an average rating of “Hold” and an average target price of $57.00.

Institutional Trading of Greenwich LifeSciences

A number of large investors have recently made changes to their positions in GLSI. Bank of America Corp DE raised its holdings in shares of Greenwich LifeSciences by 22.3% during the fourth quarter. Bank of America Corp DE now owns 7,262 shares of the company’s stock valued at $82,000 after purchasing an additional 1,322 shares during the last quarter. Rhumbline Advisers boosted its holdings in Greenwich LifeSciences by 48.7% in 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 last quarter. Wells Fargo & Company MN grew its position in Greenwich LifeSciences by 109.6% in the 4th quarter. Wells Fargo & Company MN now owns 7,845 shares of the company’s stock worth $165,000 after purchasing an additional 4,102 shares during the period. Strs Ohio bought a new stake in Greenwich LifeSciences in the 1st quarter worth approximately $177,000. Finally, Jane Street Group LLC purchased a new stake in Greenwich LifeSciences during the 4th quarter valued at $203,000. 4.16% of the stock is currently owned by institutional investors.

About Greenwich LifeSciences

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.