Genelux (NASDAQ:GNLX) Issues Earnings Results

Key Points

• Genelux reported a quarterly loss of $0.21 per share, missing the consensus estimate of a $0.20 loss by $0.01.
• Shares fell to $2.67 during Thursday trading, with the stock near the lower end of its 12-month range of $2.29 to $8.53 and a market capitalization of approximately $120 million.
• Analysts maintain a “Moderate Buy” consensus with an $18.00 target price, although Weiss Ratings reiterated a “sell” rating. Insiders sold 25,868 shares worth $76,120 over the past 90 days.

Genelux (NASDAQ:GNLX - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01), Zacks reports.

Genelux Stock Performance

Shares of NASDAQ GNLX traded down $0.03 during trading hours on Thursday, hitting $2.67. The company's stock had a trading volume of 199,188 shares, compared to its average volume of 223,060. Genelux has a 12 month low of $2.29 and a 12 month high of $8.53. The stock has a market cap of $119.95 million, a price-to-earnings ratio of -3.15 and a beta of 0.60. The business has a 50-day simple moving average of $2.90 and a 200-day simple moving average of $2.78.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Genelux news, 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 value of $29,800.00. Following the completion of the sale, the director owned 472,784 shares in the company, valued at approximately $1,408,896.32. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Smither sold 12,000 shares of Genelux stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $2.91, for a total value of $34,920.00. Following the completion of the sale, the director owned 91,403 shares in the company, valued at approximately $265,982.73. This represents a 11.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,868 shares of company stock valued at $76,120 in the last ninety days. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new stake in shares of Genelux in the 4th quarter worth about $52,000. Balyasny Asset Management L.P. purchased a new position in shares of Genelux during the fourth quarter valued at about $94,000. Align Financial LLC bought a new position in Genelux in the fourth quarter worth about $123,000. Raymond James Financial Inc. raised its stake in 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 buying an additional 5,333 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Genelux in the second quarter worth about $92,000. 37.33% of the stock is owned by hedge funds and other institutional investors.

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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