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

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

GNLX has been the topic of several other research reports. Maxim Group set a $20.00 target price on shares of Genelux in a report on Tuesday, October 21st. HC Wainwright restated a “buy” rating on shares of Genelux in a research report on Monday, January 5th. Loop Capital set a $16.00 target price on Genelux in a research report on Tuesday, October 21st. 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 target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a research note 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, Genelux has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Genelux Stock Up 2.9%

Shares of Genelux stock opened at $2.80 on Friday. The company has a market capitalization of $106.55 million, a price-to-earnings ratio of -3.18 and a beta of 0.17. The stock’s 50-day simple moving average is $4.83 and its 200-day simple moving average is $4.38. Genelux has a 52 week low of $1.99 and a 52 week high of $8.53.

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

Insider Activity

In other news, Director John Thomas sold 10,000 shares of Genelux stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $5.00, for a total value of $50,000.00. Following the completion of the transaction, the director owned 492,784 shares in the company, valued at approximately $2,463,920. The trade was a 1.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 15,990 shares of company stock valued at $82,054. 8.80% of the stock is owned by company insiders.

Institutional Trading of Genelux

A number of institutional investors have recently bought and sold shares of the stock. Private Management Group Inc. purchased a new stake in shares of Genelux in the 2nd quarter worth approximately $33,000. Beacon Capital Management LLC raised its stake in Genelux by 99.8% in the second quarter. Beacon Capital Management LLC now owns 19,116 shares of the company’s stock worth $55,000 after buying an additional 9,550 shares in the last quarter. Falcon Wealth Planning lifted its holdings in Genelux by 83.3% during the second quarter. Falcon Wealth Planning now owns 22,000 shares of the company’s stock worth $63,000 after buying an additional 10,000 shares during the period. Raymond James Financial Inc. boosted its position in Genelux by 22.6% during the 2nd quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock valued at $83,000 after acquiring an additional 5,333 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new stake in Genelux during the 1st quarter valued at $84,000. 37.33% of the stock is currently owned by institutional investors.

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.