Genelux Corporation (NASDAQ:GNLX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Genelux has a “Moderate Buy” consensus rating among five analysts, with three buys, one strong buy and one sell; the average 12-month price target is $18.00.
• Company insiders sold 59,822 shares worth approximately $164,402 over the past 90 days, while insiders retain a 7.50% ownership stake. Institutional investors own 37.33% of the company after several funds initiated or increased positions.
• GNLX opened at $2.53, near its 12-month low of $2.29 and well below its $8.53 high. Genelux reported a quarterly loss of $0.21 per share, slightly worse than the $0.20 consensus estimate.

Genelux Corporation (NASDAQ:GNLX - Get Free Report) has received an average rating of "Moderate Buy" from the five analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.00.

Several equities research analysts recently issued reports on GNLX shares. Wall Street Zen upgraded Genelux from a "strong sell" rating to a "sell" rating in a report on Sunday, August 23rd. Lucid Cap Mkts upgraded shares of Genelux to a "strong-buy" rating in a report on Wednesday. Weiss Ratings reiterated a "sell (e+)" rating on shares of Genelux in a research note on Friday, July 17th. Finally, Benchmark reaffirmed a "speculative buy" rating on shares of Genelux in a research report on Tuesday, August 18th.

Insider Buying and Selling

In related news, Director John Smither sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2.91, for a total value of $34,920.00. Following the sale, the director owned 91,403 shares of the company's stock, valued at $265,982.73. This trade represents a 11.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Zindrick sold 34,463 shares of Genelux stock in a transaction that occurred on 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 $3,274,560.09. This represents a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 59,822 shares of company stock worth $164,402. Company insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On Genelux

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

Genelux Stock Performance

NASDAQ GNLX opened at $2.53 on Friday. The stock has a fifty day simple moving average of $2.71 and a 200-day simple moving average of $2.76. The stock has a market cap of $114.46 million, a PE ratio of -2.94 and a beta of 0.57. Genelux has a twelve month low of $2.29 and a twelve month high of $8.53.

Genelux (NASDAQ:GNLX - Get Free Report) last announced 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). Research analysts predict that Genelux will post -0.81 EPS for the current year.

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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