Greenwich Lifesciences CEO Snehal Patel acquires $35,584 in stock

Snehal Patel, CEO and CFO of Greenwich LifeSciences, Inc. (NASDAQ:GLSI), recently purchased 3,200 shares of common stock in a transaction dated December 30, 2024. The shares were acquired at a price of $11.12 per share, totaling $35,584. The transaction comes as the company, currently valued at approximately $148 million, trades near $11.23 per share. According to InvestingPro analysis, the stock appears overvalued at current levels. Following this transaction, Patel's direct ownership in the company increased to 5,539,302 shares. This acquisition reflects Patel's continued involvement and investment in the pharmaceutical company headquartered in Stafford, Texas. The stock has shown significant volatility, with analysts setting a target price of $38 per share. InvestingPro subscribers can access additional insights, including 7 more ProTips and detailed financial metrics for GLSI.

In other recent news, Greenwich LifeSciences reported the results of its Annual Meeting of Stockholders, which included significant developments. The pharmaceutical company announced the re-election of all five director nominees, showcasing strong support with over 7.8 million votes for each director. The company's independent registered public accounting firm, RBSM, LLP, was ratified for the fiscal year ending December 31, 2024.

A notable amendment to the company's 2019 Equity Incentive Plan was approved, increasing the number of shares reserved for issuance to 4,000,000 from the previous 1,500,000 shares. The outcomes of these proposals reflect the shareholders' support for the company's current leadership and strategic initiatives.

InvestingPro's analysis indicates the company, despite not being currently profitable, has a set price target of $38, suggesting a potential upside. These recent developments are expected to guide Greenwich LifeSciences in its ongoing efforts within the healthcare sector.

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