Flputnam Investment Management Co. Increases Position in Genelux Corporation $GNLX

Flputnam Investment Management Co. increased its holdings in Genelux Corporation (NASDAQ:GNLX) by 708.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 300,290 shares of the company’s stock after purchasing an additional 263,131 shares during the quarter. Flputnam Investment Management Co.’s holdings in Genelux were worth $1,261,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. purchased a new stake in shares of Genelux in the first quarter valued at approximately $68,000. American Century Companies Inc. purchased a new position in shares of Genelux during the 1st quarter valued at approximately $51,000. OMERS ADMINISTRATION Corp acquired a new stake in Genelux in the 1st quarter valued at $215,000. Heights Capital Management Inc. purchased a new stake in Genelux in the 1st quarter worth $644,000. Finally, Paloma Partners Management Co acquired a new position in Genelux during the first quarter worth $135,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Insider Buying and Selling

In other Genelux news, Director John Thomas sold 10,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $5.00, for a total transaction of $50,000.00. Following the transaction, the director owned 492,784 shares of the company’s stock, valued at approximately $2,463,920. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 15,990 shares of company stock worth $82,054 in the last quarter. Company insiders own 8.80% of the company’s stock.

Genelux Trading Up 4.0%

GNLX opened at $4.37 on Tuesday. Genelux Corporation has a twelve month low of $1.99 and a twelve month high of $8.53. The firm has a market capitalization of $166.28 million, a PE ratio of -4.97 and a beta of 0.07. The firm’s 50-day moving average price is $5.64 and its 200 day moving average price is $4.28.

Genelux (NASDAQ:GNLX) last released its earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. As a group, analysts predict that Genelux Corporation will post -0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GNLX has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Genelux from a “hold” rating to a “sell” rating in a report on Saturday. Loop Capital set a $16.00 price target on shares of Genelux in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a report on Wednesday, October 8th. Lake Street Capital started coverage on Genelux in a research note on Tuesday, October 21st. They set a “buy” rating and a $16.00 price objective for the company. Finally, Maxim Group set a $20.00 target price on Genelux in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

About Genelux

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.