Genelux Corporation (NASDAQ:GNLX) Receives Average Rating of "Buy" from Analysts

Key Points

• Genelux Corporation (NASDAQ:GNLX) has received an overall average rating of "Buy" from analysts, with four firms recommending a buy and one a strong buy.
• The current one-year target price for Genelux stock is $17.75, despite its recent trading price of $3.36.
• Institutional investors hold 37.33% of Genelux shares, indicating significant interest from large financial firms in the company.

Genelux Corporation (NASDAQ:GNLX - Get Free Report) has received an average recommendation of "Buy" from the five research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.75.

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Genelux from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. HC Wainwright reissued a "buy" rating on shares of Genelux in a research report on Wednesday, July 23rd. Finally, Benchmark decreased their target price on shares of Genelux from $25.00 to $23.00 and set a "speculative buy" rating on the stock in a research report on Thursday, May 8th.

Institutional Investors Weigh In On Genelux

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. boosted its position in shares of Genelux by 22.6% in the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company's stock worth $83,000 after acquiring an additional 5,333 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Genelux in the 2nd quarter valued at $92,000. Global Retirement Partners LLC purchased a new position in shares of Genelux in the 2nd quarter valued at $656,000. Private Management Group Inc. purchased a new position in shares of Genelux in the 2nd quarter valued at $33,000. Finally, MAI Capital Management raised its stake in shares of Genelux by 66,161.3% in the 2nd quarter. MAI Capital Management now owns 236,553 shares of the company's stock valued at $679,000 after acquiring an additional 236,196 shares during the period. 37.33% of the stock is owned by institutional investors and hedge funds.

Genelux Trading Up 1.3%

Shares of NASDAQ GNLX traded up $0.05 during midday trading on Thursday, reaching $3.79. 115,753 shares of the stock were exchanged, compared to its average volume of 96,630. The company has a market capitalization of $143.15 million, a P/E ratio of -4.41 and a beta of -0.32. Genelux has a 52-week low of $1.95 and a 52-week high of $5.89. The stock has a 50 day moving average price of $3.28 and a 200-day moving average price of $3.22.

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

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.