Genelux (NASDAQ:GNLX) Announces Earnings Results

Key Points

• EPS miss: Genelux reported a quarterly loss of ($0.20) per share, missing consensus by $0.02, and its stock slipped about 1.4% to $2.83 on the news.
• Insider and institutional activity: Director John Thomas sold 10,000 shares at roughly $2.90 (a 2.03% reduction in his holding); insiders own 8.8% of the company while institutional investors hold about 37.3%.
• Mixed analyst views: Analysts are divided—Benchmark cut its target from $23 to $20 (speculative buy) and some firms have downgraded to sell, yet the consensus remains a "Moderate Buy" with an average price target of $18.

Genelux (NASDAQ:GNLX - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.02), FiscalAI reports.

Genelux Stock Down 1.4%

Shares of GNLX stock traded down $0.04 during trading hours on Thursday, hitting $2.83. 188,606 shares of the company's stock were exchanged, compared to its average volume of 192,362. Genelux has a fifty-two week low of $2.29 and a fifty-two week high of $8.53. The firm has a market cap of $126.90 million, a P/E ratio of -3.29 and a beta of 0.51. The firm has a 50 day moving average of $2.64 and a two-hundred day moving average of $3.75.

Insider Activity at Genelux

In related news, Director John Thomas sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $2.90, for a total transaction of $29,000.00. Following the completion of the sale, the director directly owned 482,784 shares in the company, valued at approximately $1,400,073.60. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.80% of the company's stock.

Institutional Trading of Genelux

Several large investors have recently made changes to their positions in the company. Creative Planning increased its position in shares of Genelux by 4.7% during the third quarter. Creative Planning now owns 46,108 shares of the company's stock worth $194,000 after purchasing an additional 2,084 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Genelux by 22.6% during the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company's stock worth $83,000 after purchasing an additional 5,333 shares in the last quarter. Geode Capital Management LLC grew its holdings in Genelux by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 318,825 shares of the company's stock valued at $915,000 after buying an additional 5,596 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Genelux in the 4th quarter valued at $52,000. Finally, Qube Research & Technologies Ltd grew its holdings in Genelux by 101.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 37,224 shares of the company's stock valued at $156,000 after buying an additional 18,734 shares in the last quarter. 37.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on GNLX shares. Benchmark reduced their target price on Genelux from $23.00 to $20.00 and set a "speculative buy" rating for the company in a research note on Friday, March 20th. Wall Street Zen downgraded Genelux from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Genelux in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Genelux has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Genelux Company 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.

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