Genelux (NASDAQ:GNLX) Stock Price Down 2.4% – Time to Sell?

Genelux Corporation (NASDAQ:GNLX) shares were down 2.4% during trading on Wednesday . The stock traded as low as $2.84 and last traded at $2.85. Approximately 172,449 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 168,559 shares. The stock had previously closed at $2.92.

Analyst Ratings Changes

GNLX has been the subject of a number of analyst reports. Benchmark reduced their price target on Genelux from $23.00 to $20.00 and set a “speculative buy” rating for the company in a research report on Friday, March 20th. Wall Street Zen lowered Genelux from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Price Performance

The firm has a market capitalization of $127.79 million, a P/E ratio of -3.35 and a beta of 0.56. The firm’s fifty day moving average price is $2.87 and its 200-day moving average price is $2.99.

Genelux (NASDAQ:GNLX) last announced its earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Analysts expect that Genelux Corporation will post -0.8 earnings per share for the current year.

Insider Activity

In other news, Director John Thomas sold 10,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $2.98, for a total value of $29,800.00. Following the sale, the director owned 472,784 shares of the company’s stock, valued at approximately $1,408,896.32. The trade was a 2.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 13,865 shares of company stock worth $41,190. 7.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in Genelux during the fourth quarter valued at about $48,000. Squarepoint Ops LLC bought a new stake in Genelux in the fourth quarter worth about $52,000. Balyasny Asset Management L.P. bought a new position in shares of Genelux during the 4th quarter valued at about $94,000. Align Financial LLC acquired a new position in shares of Genelux in the 4th quarter worth approximately $123,000. Finally, Raymond James Financial Inc. raised its holdings in shares of Genelux by 22.6% in the 2nd quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock worth $83,000 after purchasing an additional 5,333 shares in the last quarter. 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.