Greenwich LifeSciences (NASDAQ:GLSI) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $16.66 and traded as high as $17.44. Greenwich LifeSciences shares last traded at $17.13, with a volume of 118,761 shares changing hands.

Wall Street Analyst Weigh In

GLSI has been the topic of several analyst reports. HC Wainwright boosted their price target on shares of Greenwich LifeSciences from $50.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of Greenwich LifeSciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Greenwich LifeSciences presently has an average rating of “Hold” and an average price target of $69.00.

Greenwich LifeSciences Price Performance

The company has a market capitalization of $251.47 million, a P/E ratio of -11.12 and a beta of 1.46. The firm has a fifty day moving average price of $16.66 and a 200-day moving average price of $21.74.

Greenwich LifeSciences (NASDAQ:GLSI) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. On average, research analysts forecast that Greenwich LifeSciences, Inc. will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GLSI. BlackRock Inc. purchased a new stake in shares of Greenwich LifeSciences during the 2nd quarter valued at $11,398,000. Bank of New York Mellon Corp purchased a new position in shares of Greenwich LifeSciences in the 2nd quarter worth about $1,124,000. Sei Investments Co. purchased a new position in shares of Greenwich LifeSciences in the 1st quarter worth about $627,000. GSA Capital Partners LLP purchased a new position in shares of Greenwich LifeSciences in the 2nd quarter worth about $458,000. Finally, Strs Ohio boosted its holdings in shares of Greenwich LifeSciences by 140.4% in the 1st quarter. Strs Ohio now owns 13,700 shares of the company’s stock worth $329,000 after buying an additional 8,000 shares during the last quarter. Institutional investors own 4.16% of the company’s stock.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc is a clinical-stage biotechnology company focused on developing immunotherapies designed to reduce the risk of breast cancer recurrence. The company’s lead product candidate is GLSI-100, an investigational vaccine combining the HER2-derived peptide GP2 with granulocyte-macrophage colony-stimulating factor (GM-CSF).

GLSI-100 is being developed as an adjuvant therapy for patients with HER2-positive breast cancer who have completed standard treatment, including trastuzumab.