Greenwich LifeSciences, Inc. (NASDAQ:GLSI) Short Interest Update

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 505,200 shares, an increase of 8.3% from the August 31st total of 466,600 shares. Based on an average daily volume of 46,500 shares, the days-to-cover ratio is presently 10.9 days. Currently, 8.5% of the company’s shares are sold short.

Greenwich LifeSciences Stock Down 3.5 %

Shares of NASDAQ GLSI traded down $0.51 during midday trading on Tuesday, hitting $13.86. The stock had a trading volume of 31,349 shares, compared to its average volume of 42,669. Greenwich LifeSciences has a 1-year low of $7.58 and a 1-year high of $21.44. The company has a market capitalization of $178.52 million, a price-to-earnings ratio of -19.69 and a beta of 1.61. The company has a fifty day moving average price of $14.44 and a 200 day moving average price of $15.05.

Greenwich LifeSciences (NASDAQ:GLSI) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). On average, research analysts forecast that Greenwich LifeSciences will post -0.81 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Greenwich LifeSciences

In related news, CEO Snehal Patel purchased 5,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $13.18 per share, for a total transaction of $72,490.00. Following the acquisition, the chief executive officer now directly owns 5,532,602 shares in the company, valued at $72,919,694.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders purchased 11,300 shares of company stock worth $160,500. 52.86% of the stock is owned by company insiders.

Institutional Trading of Greenwich LifeSciences

A number of institutional investors have recently added to or reduced their stakes in GLSI. Vanguard Group Inc. lifted its stake 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. Bank of New York Mellon Corp acquired a new position in Greenwich LifeSciences during the 2nd quarter worth approximately $264,000. Finally, Rhumbline Advisers purchased a new position in Greenwich LifeSciences in the 2nd quarter worth approximately $117,000. 4.16% of the stock is owned by hedge funds and other institutional investors.

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.