Benchmark Cuts Genelux (NASDAQ:GNLX) Price Target to $20.00

Genelux (NASDAQ:GNLX) had its target price lowered by Benchmark from $23.00 to $20.00 in a research report report published on Friday morning,Benzinga reports. Benchmark currently has a speculative buy rating on the stock.

Other equities analysts have also issued reports about the company. HC Wainwright reaffirmed a “buy” rating on shares of Genelux in a report on Monday, January 5th. Wall Street Zen lowered Genelux from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Genelux Stock Down 5.5%

NASDAQ GNLX opened at $2.40 on Friday. The company’s 50 day moving average is $2.68 and its 200-day moving average is $4.15. Genelux has a 12-month low of $1.99 and a 12-month high of $8.53. The firm has a market cap of $107.54 million, a P/E ratio of -2.79 and a beta of 0.15.

Genelux (NASDAQ:GNLX) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $0.01 million for the quarter. Equities analysts expect that Genelux will post -0.88 EPS for the current year.

Insider Activity at Genelux

In other news, Director John Thomas sold 10,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $2.90, for a total transaction of $29,000.00. Following the completion of the transaction, the director directly owned 482,784 shares in the company, valued at $1,400,073.60. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genelux

Several large investors have recently added to or reduced their stakes in GNLX. Flputnam Investment Management Co. boosted its stake in Genelux by 708.1% during the third quarter. Flputnam Investment Management Co. now owns 300,290 shares of the company’s stock valued at $1,261,000 after buying an additional 263,131 shares during the period. MAI Capital Management increased 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 acquiring an additional 236,196 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Genelux in the 2nd quarter valued at about $656,000. Goldman Sachs Group Inc. raised its holdings in shares of Genelux by 451.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 183,807 shares of the company’s stock valued at $801,000 after acquiring an additional 150,463 shares in the last quarter. Finally, 683 Capital Management LLC bought a new stake in shares of Genelux during the 4th quarter valued at about $572,000. Institutional investors own 37.33% of the company’s stock.

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.