Genelux (NASDAQ:GNLX) Trading Up 3.3% - Time to Buy?

Genelux Co. (NASDAQ:GNLX - Get Free Report)'s share price traded up 3.3% during mid-day trading on Thursday . The stock traded as high as $2.55 and last traded at $2.53. 192,780 shares were traded during mid-day trading, an increase of 2% from the average session volume of 189,540 shares. The stock had previously closed at $2.45.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright reiterated 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 Genelux from $25.00 to $23.00 and set a "speculative buy" rating for the company in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $17.75.

Genelux Stock Up 3.3%

The firm has a 50 day moving average price of $2.55 and a 200 day moving average price of $3.06. The stock has a market cap of $95.47 million, a PE ratio of -2.66 and a beta of -0.49.

Genelux (NASDAQ:GNLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. Equities analysts forecast that Genelux Co. will post -0.88 earnings per share for the current year.

Institutional Trading of Genelux

A number of hedge funds have recently bought and sold shares of GNLX. Apollon Wealth Management LLC increased its holdings in shares of Genelux by 20.4% in the 4th quarter. Apollon Wealth Management LLC now owns 16,863 shares of the company's stock valued at $40,000 after acquiring an additional 2,857 shares during the period. LifeSteps Financial Inc. boosted its position in Genelux by 11.1% during the fourth quarter. LifeSteps Financial Inc. now owns 86,970 shares of the company's stock valued at $205,000 after purchasing an additional 8,715 shares in the last quarter. Virtu Financial LLC purchased a new position in Genelux in the fourth quarter valued at about $25,000. Advisor Resource Council bought a new position in Genelux in the first quarter worth about $34,000. Finally, Miracle Mile Advisors LLC lifted its position in shares of Genelux by 60.0% during the first quarter. Miracle Mile Advisors LLC now owns 40,000 shares of the company's stock valued at $108,000 after buying an additional 15,000 shares during the last quarter. Hedge funds and other 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.

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