Genelux (NASDAQ:GNLX) Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Genelux from “strong sell” to “sell,” while analysts remain divided; MarketBeat lists a consensus “Moderate Buy” rating and an $18.00 target price.
• Genelux shares opened at $2.45, near their one-year low of $2.29, with a market capitalization of about $110.8 million. The company reported a quarterly loss of $0.21 per share, slightly worse than expectations.
• Company insiders sold 47,822 shares worth approximately $129,482 over the past 90 days, while institutional investors and hedge funds own 37.33% of the stock.

Genelux (NASDAQ:GNLX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Tuesday, Wall Street Zen reports.

A number of other analysts also recently commented on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Genelux in a research report on Thursday. Benchmark reissued a "speculative buy" rating on shares of Genelux in a report on Tuesday, August 18th. Finally, Lucid Cap Mkts upgraded Genelux to a "strong-buy" rating in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Genelux Stock Performance

Genelux stock opened at $2.45 on Tuesday. Genelux has a one year low of $2.29 and a one year high of $8.53. The business has a fifty day moving average of $2.56 and a two-hundred day moving average of $2.75. The company has a market cap of $110.84 million, a P/E ratio of -2.85 and a beta of 0.59.

Genelux (NASDAQ:GNLX - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Sell-side analysts predict that Genelux will post -0.81 EPS for the current year.

Insider Buying and Selling at Genelux

In other news, insider Yong Yu sold 9,683 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $2.75, for a total transaction of $26,628.25. Following the sale, the insider owned 258,688 shares in the company, valued at $711,392. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Zindrick sold 34,463 shares of Genelux stock in a transaction on Monday, August 31st. The shares were sold at an average price of $2.67, for a total value of $92,016.21. Following the completion of the sale, the chief executive officer directly owned 1,226,427 shares of the company's stock, valued at approximately $3,274,560.09. This represents a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,822 shares of company stock worth $129,482 in the last 90 days. Insiders own 7.50% of the company's stock.

Institutional Trading of Genelux

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in shares of Genelux during the 2nd quarter valued at about $35,000. Strive Financial Group LLC lifted its holdings in shares of Genelux by 728.7% during the 2nd quarter. Strive Financial Group LLC now owns 41,437 shares of the company's stock worth $125,000 after acquiring an additional 36,437 shares during the period. SteelPeak Wealth LLC boosted its position in shares of Genelux by 458.9% in the first quarter. SteelPeak Wealth LLC now owns 60,895 shares of the company's stock worth $147,000 after acquiring an additional 50,000 shares during the last quarter. AMG National Trust Bank acquired a new stake in shares of Genelux in the second quarter worth approximately $227,000. Finally, Citadel Advisors LLC purchased a new position in Genelux in the second quarter valued at about $257,000. 37.33% of the stock is owned by institutional investors and hedge funds.

Genelux Company Profile

Genelux Corporation is a clinical-stage biotechnology company focused on developing novel cancer treatments based on oncolytic virus immunotherapies. The company's platform is designed to use genetically modified viruses to selectively infect and destroy tumor cells while stimulating the patient's immune system to recognize and attack cancer.

Genelux's lead product candidate is Olvi-Vec (olvimulogene nanivacirepvec), a proprietary modified vaccinia virus being studied in combination with other therapies for advanced solid tumors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.