Greenwich LifeSciences, Inc. (NASDAQ:GLSI) Short Interest Up 10.2% in May

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 195,100 shares, a growth of 10.2% from the May 15th total of 177,100 shares. Based on an average daily volume of 37,300 shares, the days-to-cover ratio is currently 5.2 days. Approximately 3.3% of the company’s shares are sold short.

Insider Activity at Greenwich LifeSciences

In related news, CEO Snehal Patel bought 2,500 shares of the stock in a transaction on Friday, March 22nd. The stock was bought at an average price of $19.98 per share, with a total value of $49,950.00. Following the completion of the purchase, the chief executive officer now directly owns 5,347,777 shares in the company, valued at approximately $106,848,584.46. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders bought 180,325 shares of company stock valued at $2,607,188. 52.86% of the stock is owned by company insiders.

Institutional Trading of Greenwich LifeSciences

An institutional investor recently raised its position in Greenwich LifeSciences stock. Vanguard Group Inc. boosted its position in Greenwich LifeSciences, Inc. (NASDAQ:GLSI) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,102 shares of the company’s stock after acquiring an additional 1,420 shares during the quarter. Vanguard Group Inc. owned 1.73% of Greenwich LifeSciences worth $4,449,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of Greenwich LifeSciences in a research report on Wednesday, May 22nd.

Greenwich LifeSciences Stock Performance

Shares of GLSI opened at $15.97 on Wednesday. The stock has a market capitalization of $205.69 million, a PE ratio of -22.18 and a beta of 1.60. Greenwich LifeSciences has a 1 year low of $7.58 and a 1 year high of $21.44. The company’s 50-day simple moving average is $13.95 and its 200-day simple moving average is $12.99.

Greenwich LifeSciences (NASDAQ:GLSI) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. On average, sell-side analysts predict that Greenwich LifeSciences will post -0.75 earnings per share for the current year.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel cancer immunotherapies for breast cancer and other HER2/neu-expressing cancers. Its lead product candidate is the GP2, an immunotherapy, which is in Phase III clinical trial to prevent breast cancer recurrences in patients who have previously undergone surgery.