Genelux (NASDAQ:GNLX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Genelux from “strong sell” to “sell,” while analyst opinions remain mixed; the stock has an overall “Moderate Buy” consensus rating and an $18 target price.
• Genelux shares opened at $2.56, near their 52-week low of $2.29 and well below the 52-week high of $8.53. The company reported a quarterly loss of $0.21 per share, missing estimates by $0.01.
• 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 Genelux.

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

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

Genelux Price Performance

Shares of GNLX opened at $2.56 on Friday. Genelux has a 1-year low of $2.29 and a 1-year high of $8.53. The stock has a market cap of $115.81 million, a PE ratio of -2.98 and a beta of 0.59. The firm has a fifty day moving average price of $2.63 and a 200 day moving average price of $2.75.

Genelux (NASDAQ:GNLX - Get Free Report) last announced 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). As a group, equities analysts expect that Genelux will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at Genelux

In other Genelux news, CEO Thomas Zindrick sold 34,463 shares of Genelux stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $2.67, for a total transaction of $92,016.21. Following the transaction, the chief executive officer directly owned 1,226,427 shares of the company's stock, valued at $3,274,560.09. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Yong Yu sold 9,683 shares of Genelux stock in a transaction on Monday, August 31st. The shares were sold at an average price of $2.75, for a total transaction of $26,628.25. Following the transaction, the insider owned 258,688 shares in the company, valued at $711,392. The trade was a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,822 shares of company stock worth $129,482 over the last ninety days. Corporate insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On Genelux

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Genelux in the 2nd quarter worth $1,323,000. Bank of America Corp DE bought a new position in Genelux during the 2nd quarter worth approximately $990,000. Flputnam Investment Management Co. acquired a new position in Genelux in the second quarter worth $697,000. Global Retirement Partners LLC acquired a new position in shares of Genelux in the 2nd quarter valued at about $686,000. Finally, Citadel Advisors LLC acquired a new position in Genelux in the second quarter valued at approximately $257,000. 37.33% of the stock is owned by institutional investors and hedge funds.

About Genelux

Genelux Corporation is a clinical-stage biotechnology company focused on developing and commercializing therapies for cancer. The company's research centers on oncolytic immunotherapies, which are designed to selectively infect and destroy tumor cells while stimulating the body's immune response against cancer.

Genelux's lead investigational product is olvimulogene nanivacirepvec, also known as Olvi-Vec or GL-ONC1. Olvi-Vec is a modified vaccinia virus being evaluated in clinical studies for several solid tumors, including ovarian cancer and other advanced or recurrent cancers.

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