Greenwich LifeSciences, Inc. (NASDAQ:GLSI) Sees Large Growth in Short Interest

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 451,700 shares, an increase of 8.7% from the July 31st total of 415,600 shares. Based on an average trading volume of 45,000 shares, the short-interest ratio is presently 10.0 days. Approximately 7.8% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, HC Wainwright increased their price objective on shares of Greenwich LifeSciences from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, August 23rd.

Greenwich LifeSciences Price Performance

Greenwich LifeSciences stock opened at $14.02 on Tuesday. The stock has a market cap of $184.36 million, a PE ratio of -19.47 and a beta of 1.64. The stock’s fifty day moving average is $15.16 and its two-hundred day moving average is $14.99. Greenwich LifeSciences has a 1-year low of $7.58 and a 1-year high of $21.44.

Greenwich LifeSciences (NASDAQ:GLSI) last issued its earnings results on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). On average, research analysts expect that Greenwich LifeSciences will post -0.81 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Snehal Patel bought 5,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $13.18 per share, with a total value of $72,490.00. Following the purchase, the chief executive officer now directly owns 5,532,602 shares of the company’s stock, valued at approximately $72,919,694.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 183,825 shares of company stock worth $2,627,473. Corporate insiders own 52.86% of the company’s stock.

Institutional Trading of Greenwich LifeSciences

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers acquired a new stake in Greenwich LifeSciences during the 2nd quarter worth $117,000. Bank of New York Mellon Corp purchased a new position in shares of Greenwich LifeSciences during the second quarter worth about $264,000. Finally, Vanguard Group Inc. increased its position in shares of Greenwich LifeSciences by 0.6% during the first quarter. Vanguard Group Inc. now owns 223,102 shares of the company’s stock worth $4,449,000 after purchasing an additional 1,420 shares in the last quarter. Hedge funds and other institutional investors own 4.16% of the company’s stock.

Greenwich LifeSciences Company Profile

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.