Greenwich LifeSciences (NASDAQ:GLSI) Releases Earnings Results, Misses Expectations By $0.01 EPS

Greenwich LifeSciences (NASDAQ:GLSI) announced its quarterly earnings results on Tuesday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01), Zacks reports.

Greenwich LifeSciences Trading Up 1.2%

NASDAQ:GLSI traded up $0.12 during trading hours on Tuesday, reaching $10.30. 40,501 shares of the company were exchanged, compared to its average volume of 60,975. The firm has a market cap of $136.72 million, a PE ratio of -12.87 and a beta of 1.74. Greenwich LifeSciences has a twelve month low of $8.06 and a twelve month high of $18.75. The stock’s 50-day moving average is $9.95 and its 200-day moving average is $11.78.

Insider Activity

In other Greenwich LifeSciences news, CEO Snehal Patel purchased 5,500 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $8.73 per share, for a total transaction of $48,015.00. Following the completion of the transaction, the chief executive officer now owns 5,558,002 shares of the company’s stock, valued at $48,521,357.46. The trade was a 0.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have purchased a total of 18,100 shares of company stock worth $164,835 over the last 90 days. 51.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Greenwich LifeSciences

A hedge fund recently raised its stake in Greenwich LifeSciences stock. Bank of America Corp DE raised its holdings in Greenwich LifeSciences, Inc. (NASDAQ:GLSI) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,262 shares of the company’s stock after purchasing an additional 1,322 shares during the quarter. Bank of America Corp DE owned 0.06% of Greenwich LifeSciences worth $82,000 as of its most recent SEC filing. 4.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their price objective on Greenwich LifeSciences from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, April 21st.

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.