Greenwich LifeSciences Inc. [GLSI] is 701.40% higher this YTD. Is it still time to buy?

Greenwich LifeSciences Inc. [NASDAQ: GLSI] price surged by 5.87 percent to reach at $2.22. The company report on December 22, 2020 that Greenwich LifeSciences, Inc. Announces Closing of Public Offering of Common Stock.

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Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the “Company”), a clinical-stage biopharmaceutical company focused on the development of GP2, an immunotherapy to prevent breast cancer recurrences in patients who have previously undergone surgery, announced the closing of its previously announced underwritten public offering of common stock, resulting in gross proceeds to the Company of $26.4 million. The Company intends to use the net proceeds for completion of all manufacturing and all clinical trial activities to complete an interim analysis and data readout of the GP2 Phase III clinical trial, for the submission of a Biologics Licensing Application to the FDA seeking conditional marketing approval of GP2, for the in-licensing or acquisition and development of additional products, including the coronavirus vaccine program, and for working capital and general corporate purposes.

The Company has also granted the underwriters a 45-day option to purchase up to an additional 99,000 shares of common stock offered in the public offering to cover over-allotments, if any, at the public offering price, which would increase the total gross proceeds of the offering to approximately $30.4 million, if exercised in full.

A sum of 1253571 shares traded at recent session while its average daily volume was at 728.21K shares. Greenwich LifeSciences Inc. shares reached a high of $44.98 and dropped to a low of $37.1015 until finishing in the latest session at $40.07.

Guru’s Opinion on Greenwich LifeSciences Inc. [GLSI]:

The Average True Range (ATR) for Greenwich LifeSciences Inc. is set at 13.41 The Price to Book ratio for the last quarter was 102.74, with the Price to Cash per share for the same quarter was set at 0.44.

GLSI Stock Performance Analysis:

Greenwich LifeSciences Inc. [GLSI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.70.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GLSI stock in for the last two-week period is set at 59.61, with the RSI for the last a single of trading hit 56.73, and the three-weeks RSI is set at 61.07 for Greenwich LifeSciences Inc. [GLSI]. The present Moving Average for the last 50 days of trading for this stock 14.18, while it was recorded at 39.48 for the last single week of trading.

Insight into Greenwich LifeSciences Inc. Fundamentals:

Greenwich LifeSciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 3.90.

Greenwich LifeSciences Inc. [GLSI] Insider Position Details

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1 institutional holders increased their position in Greenwich LifeSciences Inc. [NASDAQ:GLSI] by around 277 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 277 shares, according to the latest SEC report filing. GLSI stock had 1 new institutional investments in for a total of 277 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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