HC Wainwright Reiterates Buy Rating for Greenwich LifeSciences (NASDAQ:GLSI)

Greenwich LifeSciences (NASDAQ:GLSI)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $38.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 217.46% from the company’s current price.

Greenwich LifeSciences Stock Performance

Shares of GLSI opened at $11.97 on Tuesday. The company has a 50 day moving average price of $12.68 and a 200-day moving average price of $13.54. Greenwich LifeSciences has a fifty-two week low of $8.15 and a fifty-two week high of $21.44. The stock has a market capitalization of $157.41 million, a PE ratio of -14.96 and a beta of 1.69.

Insiders Place Their Bets

In other news, CEO Snehal Patel bought 2,500 shares of Greenwich LifeSciences stock in a transaction on Friday, January 10th. The stock was acquired at an average cost of $12.51 per share, for a total transaction of $31,275.00. Following the completion of the acquisition, the chief executive officer now owns 5,552,502 shares of the company’s stock, valued at $69,461,800.02. This trade represents a 0.05 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 10,500 shares of company stock worth $128,459 over the last 90 days. Company insiders own 51.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Garden State Investment Advisory Services LLC acquired a new stake in Greenwich LifeSciences in the third quarter valued at approximately $253,000. State Street Corp lifted its holdings in shares of Greenwich LifeSciences by 4.4% during the 3rd quarter. State Street Corp now owns 71,408 shares of the company’s stock valued at $1,026,000 after purchasing an additional 3,005 shares during the last quarter. Barclays PLC boosted its position in shares of Greenwich LifeSciences by 323.3% in the 3rd quarter. Barclays PLC now owns 8,560 shares of the company’s stock worth $123,000 after purchasing an additional 6,538 shares in the last quarter. Geode Capital Management LLC grew its stake in Greenwich LifeSciences by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 133,550 shares of the company’s stock worth $1,919,000 after buying an additional 5,861 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Greenwich LifeSciences by 172.0% during the 4th quarter. JPMorgan Chase & Co. now owns 7,061 shares of the company’s stock valued at $79,000 after buying an additional 4,465 shares in the last quarter. Hedge funds and other institutional investors own 4.16% of the company’s stock.

About Greenwich LifeSciences

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.