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

Key Points

• Wall Street Zen downgraded Genelux to “strong sell” from “sell,” contrasting with a broader analyst consensus of “Moderate Buy” and a $18.00 price target.
• Genelux shares opened at $2.56, near their 52-week low of $2.29, while the company reported a quarterly loss of $0.21 per share—slightly worse than the expected $0.20 loss.
• Company insiders sold 47,822 shares worth approximately $129,482 over the past three months, while institutional investors own 37.33% of Genelux stock.

Genelux (NASDAQ:GNLX - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Lucid Cap Mkts upgraded Genelux to a "strong-buy" rating in a research report on Wednesday, September 16th. Benchmark restated a "speculative buy" rating on shares of Genelux in a research report on Tuesday, August 18th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Genelux in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Genelux Price Performance

GNLX opened at $2.56 on Monday. The firm has a market cap of $115.81 million, a price-to-earnings ratio of -2.98 and a beta of 0.59. Genelux has a fifty-two week low of $2.29 and a fifty-two week high of $8.53. The company's 50-day moving average price is $2.59 and its 200 day moving average price is $2.75.

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

Insider Transactions at Genelux

In other Genelux news, insider Yong Yu sold 9,683 shares of the business's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $2.75, for a total transaction of $26,628.25. Following the completion of the transaction, the insider directly owned 258,688 shares of the company's stock, valued at $711,392. The trade was a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Zindrick sold 34,463 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $2.67, for a total transaction of $92,016.21. Following the completion of the transaction, the chief executive officer owned 1,226,427 shares of the company's stock, valued at approximately $3,274,560.09. This trade represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,822 shares of company stock valued at $129,482 over the last three months. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genelux

A number of hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new position in shares of Genelux during the 2nd quarter valued at $257,000. Strive Financial Group LLC raised its stake in shares of Genelux by 728.7% in the 2nd quarter. Strive Financial Group LLC now owns 41,437 shares of the company's stock worth $125,000 after buying an additional 36,437 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Genelux in the second quarter valued at $990,000. BlackRock Inc. acquired a new stake in shares of Genelux in the second quarter valued at $1,323,000. Finally, AMG National Trust Bank acquired a new stake in shares of Genelux in the second quarter valued at $227,000. Institutional investors own 37.33% of the company's stock.

About Genelux

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.

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