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

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 229,400 shares, an increase of 17.6% from the May 31st total of 195,100 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average trading volume of 33,700 shares, the days-to-cover ratio is currently 6.8 days.

Analysts Set New Price Targets

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

Greenwich LifeSciences Stock Performance

Shares of GLSI opened at $17.26 on Friday. The stock has a 50 day simple moving average of $14.26 and a 200 day simple moving average of $13.23. Greenwich LifeSciences has a 52-week low of $7.58 and a 52-week high of $21.44. The firm has a market capitalization of $222.31 million, a PE ratio of -23.97 and a beta of 1.60.

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

Insider Activity

In related news, CEO Snehal Patel purchased 174,825 shares of the stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $14.30 per share, with a total value of $2,499,997.50. Following the purchase, the chief executive officer now directly owns 5,525,602 shares in the company, valued at approximately $79,016,108.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 52.86% 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. Vanguard Group Inc. grew its position in shares of Greenwich LifeSciences, Inc. (NASDAQ:GLSI) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period. 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, 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.