BlackRock Inc. Takes Position in Genelux Corporation $GNLX

Key Points

• BlackRock initiated a position in Genelux by purchasing 439,602 shares valued at approximately $1.32 million, representing about 0.98% of the company. Institutional investors and hedge funds collectively own 37.33% of GNLX.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $18.00. However, Genelux recently missed quarterly EPS estimates, reporting a loss of $0.21 per share versus expectations of $0.20.
• GNLX opened at $2.44 and remains near its one-year low of $2.29, while insiders have sold 59,822 shares worth approximately $164,402 over the past three months.

BlackRock Inc. purchased a new position in Genelux Corporation (NASDAQ:GNLX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 439,602 shares of the company's stock, valued at approximately $1,323,000. BlackRock Inc. owned about 0.98% of Genelux as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GNLX. Jefferies Financial Group Inc. bought a new stake in Genelux in the fourth quarter valued at about $48,000. GSA Capital Partners LLP bought a new position in Genelux during the second quarter worth about $35,000. Squarepoint Ops LLC bought a new position in Genelux during the fourth quarter worth about $52,000. Balyasny Asset Management L.P. acquired a new position in shares of Genelux during the 4th quarter worth about $94,000. Finally, Align Financial LLC acquired a new position in shares of Genelux during the 4th quarter worth about $123,000. 37.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on GNLX. Wall Street Zen raised shares of Genelux from a "strong sell" rating to a "sell" rating in a research note on Sunday, August 23rd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Genelux in a research note on Friday, July 17th. Finally, Benchmark reiterated a "speculative buy" rating on shares of Genelux in a report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Genelux Stock Performance

NASDAQ:GNLX opened at $2.44 on Monday. Genelux Corporation has a 1 year low of $2.29 and a 1 year high of $8.53. The stock has a market cap of $110.39 million, a price-to-earnings ratio of -2.84 and a beta of 0.57. The stock has a 50-day moving average price of $2.81 and a two-hundred day moving average price of $2.78.

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

Insider Buying and Selling

In other Genelux news, Director John Smither sold 12,000 shares of Genelux 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 transaction, the director owned 91,403 shares of the company's stock, valued at approximately $265,982.73. The trade was a 11.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Yong Yu sold 9,683 shares of Genelux stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 258,688 shares in the company, valued at approximately $711,392. The trade was a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 59,822 shares of company stock valued at $164,402. 7.50% of the stock is owned by corporate insiders.

Genelux 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.

Want to see what other hedge funds are holding GNLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genelux Corporation (NASDAQ:GNLX - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source