Heights Capital Management Inc. Purchases New Position in Genelux Corporation $GNLX

Key Points

• Heights Capital Management Inc. purchased a new stake in Genelux Corporation, acquiring 238,366 shares valued at approximately $644,000, representing about 0.63% of the company's stock.
• Genelux shares are currently trading at $3.64, with a 52-week range of $1.95 to $5.89, and the company has a market cap of $137.48 million.
• Wall Street analysts have a consensus Buy rating for Genelux, with three analysts recommending a buy and a target price of $20.33.

Heights Capital Management Inc. purchased a new stake in shares of Genelux Corporation (NASDAQ:GNLX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 238,366 shares of the company's stock, valued at approximately $644,000. Heights Capital Management Inc. owned approximately 0.63% of Genelux as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Advisor Resource Council bought a new stake in Genelux in the 1st quarter worth approximately $34,000. Raymond James Financial Inc. bought a new stake in Genelux in the 4th quarter worth approximately $41,000. Liberty Wealth Management LLC bought a new stake in Genelux in the 1st quarter worth approximately $45,000. 5T Wealth LLC bought a new stake in Genelux in the 1st quarter worth approximately $49,000. Finally, American Century Companies Inc. bought a new stake in Genelux in the 1st quarter worth approximately $51,000. Institutional investors own 37.33% of the company's stock.

Genelux Stock Down 4.0%

Shares of GNLX opened at $3.64 on Thursday. Genelux Corporation has a 52 week low of $1.95 and a 52 week high of $5.89. The business has a 50-day simple moving average of $3.30 and a two-hundred day simple moving average of $3.22. The stock has a market cap of $137.48 million, a price-to-earnings ratio of -4.23 and a beta of -0.32.

Genelux (NASDAQ:GNLX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.02. On average, equities analysts anticipate that Genelux Corporation will post -0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GNLX shares. Wall Street Zen raised shares of Genelux from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Benchmark cut their target price on shares of Genelux from $25.00 to $23.00 and set a "speculative buy" rating for the company in a research report on Thursday, May 8th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Genelux in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $20.33.

Genelux Company Profile

Genelux Corporation, a clinical-stage biopharmaceutical company, focuses on developing next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Its lead product candidate is Olvi-Vec, a proprietary modified strain of the vaccinia virus for the treatment of ovarian cancer and non-small cell lung cancer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.