Genelux (NASDAQ:GNLX) Rating Lowered to Sell at Wall Street Zen

Genelux (NASDAQ:GNLX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

GNLX has been the subject of a number of other reports. HC Wainwright restated a "buy" rating and set a $30.00 price target on shares of Genelux in a report on Monday, March 31st. Benchmark decreased their price target on shares of Genelux from $25.00 to $23.00 and set a "speculative buy" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Genelux currently has an average rating of "Moderate Buy" and an average price target of $17.75.

Genelux Price Performance

NASDAQ:GNLX traded up $0.15 during trading hours on Friday, reaching $2.71. The company's stock had a trading volume of 130,685 shares, compared to its average volume of 189,295. The company has a market cap of $102.26 million, a price-to-earnings ratio of -2.85 and a beta of -0.49. Genelux has a one year low of $1.60 and a one year high of $5.89. The business's 50-day moving average is $2.55 and its 200-day moving average is $3.07.

Genelux (NASDAQ:GNLX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.03. On average, sell-side analysts predict that Genelux will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Genelux

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Genelux in the fourth quarter worth about $25,000. Advisor Resource Council acquired a new position in Genelux in the first quarter worth about $34,000. Liberty Wealth Management LLC acquired a new position in Genelux in the first quarter worth about $45,000. Apollon Wealth Management LLC raised its position in Genelux by 20.4% in the fourth quarter. Apollon Wealth Management LLC now owns 16,863 shares of the company's stock worth $40,000 after purchasing an additional 2,857 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Genelux in the fourth quarter worth about $41,000. Institutional investors own 37.33% of the company's stock.

About Genelux

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.