Genelux (NASDAQ:GNLX) Stock Rating Lowered by Wall Street Zen

Genelux (NASDAQ:GNLX) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other brokerages have also recently weighed in on GNLX. Loop Capital set a $16.00 price objective on Genelux in a report on Tuesday, October 21st. Maxim Group set a $20.00 price target on shares of Genelux in a research note on Tuesday, October 21st. Lake Street Capital started coverage on shares of Genelux in a report on Tuesday, October 21st. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Genelux Price Performance

GNLX stock opened at $4.20 on Friday. The business has a 50-day moving average of $5.66 and a 200-day moving average of $4.24. Genelux has a fifty-two week low of $1.99 and a fifty-two week high of $8.53. The stock has a market capitalization of $159.81 million, a P/E ratio of -4.77 and a beta of 0.06.

Genelux (NASDAQ:GNLX) last released its earnings results on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.02. Equities analysts expect that Genelux will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other Genelux news, Director John Thomas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $5.00, for a total transaction of $50,000.00. Following the completion of the sale, the director directly owned 492,784 shares in the company, valued at $2,463,920. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 15,990 shares of company stock valued at $82,054. 8.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Genelux

Large investors have recently made changes to their positions in the company. Woodward Diversified Capital LLC lifted its holdings in Genelux by 21.7% during the 2nd quarter. Woodward Diversified Capital LLC now owns 1,778,286 shares of the company’s stock worth $5,104,000 after purchasing an additional 317,173 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Genelux during the 1st quarter worth $770,000. Flputnam Investment Management Co. lifted its holdings in shares of Genelux by 708.1% during the third quarter. Flputnam Investment Management Co. now owns 300,290 shares of the company’s stock worth $1,261,000 after buying an additional 263,131 shares in the last quarter. Heights Capital Management Inc. bought a new stake in shares of Genelux in the first quarter valued at about $644,000. Finally, MAI Capital Management boosted its position in shares of Genelux by 66,161.3% in the second quarter. MAI Capital Management now owns 236,553 shares of the company’s stock valued at $679,000 after acquiring an additional 236,196 shares during the period. Institutional investors own 37.33% of the company’s stock.

Genelux Company Profile

Genelux Corporation (NASDAQ:GNLX) is a clinical-stage biotechnology company focused on the development of oncolytic virus immunotherapies. Built on a proprietary vaccinia virus platform, the company’s programs are designed to selectively infect and destroy cancer cells while stimulating a systemic immune response. Genelux’s lead candidate, pexastimogene devacirepvec (GL-ONC1), is being evaluated in multiple indications, including peritoneal malignancies and head and neck cancers, where it is administered either intraperitoneally or systemically depending on the trial design.

Genelux’s pipeline leverages its experience with the GL-ONC1 construct to explore combination strategies with chemotherapy and immuno-oncology agents.