Genelux (NASDAQ:GNLX) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Genelux to “strong sell”, while Weiss Ratings maintained a “sell (e+)” rating. Despite this, the broader analyst consensus remains “Moderate Buy,” with a $18.00 price target.
• Genelux shares opened at $2.74, with a market capitalization of approximately $122.9 million, and trade near their 52-week low of $2.29. The company reported a quarterly loss of $0.21 per share, missing estimates by $0.01.
• Insiders sold 25,868 shares worth about $76,120 over the past three months, while institutional investors and hedge funds own 37.33% of the company. Genelux is a clinical-stage biotechnology company developing oncolytic virus immunotherapies.

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

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Genelux in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Genelux has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Genelux Stock Up 4.2%

NASDAQ GNLX opened at $2.74 on Friday. The business's fifty day simple moving average is $2.89 and its 200-day simple moving average is $2.78. The firm has a market cap of $122.86 million, a PE ratio of -3.19 and a beta of 0.60. Genelux has a 52 week low of $2.29 and a 52 week high of $8.53.

Genelux (NASDAQ:GNLX - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Research analysts expect that Genelux will post -0.8 EPS for the current year.

Insider Buying and Selling

In other news, Director John W. Smither sold 12,000 shares of the company's 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 directly owned 91,403 shares in the company, valued at approximately $265,982.73. This represents a 11.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Thomas sold 10,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $2.98, for a total transaction of $29,800.00. Following the transaction, the director directly owned 472,784 shares of the company's stock, valued at $1,408,896.32. The trade was a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,868 shares of company stock worth $76,120 over the last three months. Insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On Genelux

Several hedge funds have recently bought and sold shares of the company. Creative Planning boosted its holdings in Genelux by 4.7% during the 3rd quarter. Creative Planning now owns 46,108 shares of the company's stock valued at $194,000 after acquiring an additional 2,084 shares during the period. Raymond James Financial Inc. increased its stake in 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 during the period. Geode Capital Management LLC increased its stake in Genelux by 1.8% during the second quarter. Geode Capital Management LLC now owns 318,825 shares of the company's stock worth $915,000 after purchasing an additional 5,596 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Genelux during the fourth quarter worth about $48,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Genelux in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 37.33% of the company's stock.

About Genelux

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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