Genelux (NASDAQ:GNLX) Stock Price Down 5.1% – What’s Next?

Shares of Genelux Corporation (NASDAQ:GNLX) dropped 5.1% on Wednesday . The stock traded as low as $2.46 and last traded at $2.58. Approximately 297,995 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 360,006 shares. The stock had previously closed at $2.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research note on Thursday, January 22nd. HC Wainwright restated a “buy” rating on shares of Genelux in a report on Monday, January 5th. Loop Capital set a $16.00 target price on shares of Genelux in a research note on Tuesday, October 21st. Maxim Group set a $20.00 target price on shares of Genelux in a research report on Tuesday, October 21st. Finally, 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 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Genelux currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Genelux Trading Down 5.1%

The company has a market capitalization of $98.17 million, a P/E ratio of -2.93 and a beta of 0.20. The company’s fifty day moving average is $3.73 and its 200 day moving average is $4.33.

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

Insider Activity

In related 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 sale, the director directly owned 492,784 shares in the company, valued at approximately $2,463,920. The trade was a 1.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 15,990 shares of company stock worth $82,054. Insiders own 8.80% of the company’s stock.

Institutional Investors Weigh In On Genelux

Hedge funds and other institutional investors have recently modified their holdings of the stock. Woodward Diversified Capital LLC lifted its holdings in shares of Genelux by 4.8% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,932,711 shares of the company’s stock worth $8,427,000 after buying an additional 88,612 shares in the last quarter. Geode Capital Management LLC grew its stake in Genelux by 1.8% during the second quarter. Geode Capital Management LLC now owns 318,825 shares of the company’s stock valued at $915,000 after acquiring an additional 5,596 shares in the last quarter. Flputnam Investment Management Co. increased its holdings in Genelux by 708.1% during the 3rd quarter. Flputnam Investment Management Co. now owns 300,290 shares of the company’s stock worth $1,261,000 after acquiring an additional 263,131 shares during the period. MAI Capital Management lifted its stake in Genelux by 66,161.3% in the 2nd quarter. MAI Capital Management now owns 236,553 shares of the company’s stock worth $679,000 after purchasing an additional 236,196 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in Genelux in the 2nd quarter valued at $656,000. 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.