Genelux (NASDAQ:GNLX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Genelux from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with an $18 price target.
• Genelux shares opened at $2.72, near their 50- and 200-day moving averages, and have traded between $2.29 and $8.53 over the past year. The company reported a quarterly loss of $0.21 per share, missing estimates by $0.01.
• Insiders sold 25,868 shares worth approximately $76,120 over the past 90 days, while institutional investors own 37.33% of the stock.

Genelux (NASDAQ:GNLX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Sunday.

A number of other equities analysts have also recently weighed in on GNLX. Weiss Ratings reissued a "sell (e+)" rating on shares of Genelux in a research note on Friday, July 17th. Benchmark restated a "speculative buy" rating on shares of Genelux in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Genelux Trading Down 0.7%

Shares of Genelux stock opened at $2.72 on Friday. The company has a 50-day moving average of $2.87 and a two-hundred day moving average of $2.77. The stock has a market cap of $123.05 million, a PE ratio of -3.16 and a beta of 0.60. Genelux has a 12-month low of $2.29 and a 12-month high of $8.53.

Genelux (NASDAQ:GNLX - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). On average, sell-side analysts forecast that Genelux will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John W. Smither sold 12,000 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2.91, for a total transaction of $34,920.00. Following the transaction, the director owned 91,403 shares in the company, valued at approximately $265,982.73. The trade was a 11.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Thomas sold 10,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were 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. This represents 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 in the last ninety days. Insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On Genelux

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in shares of Genelux in the 1st quarter worth approximately $239,000. Jane Street Group LLC bought a new stake in shares of Genelux during the first quarter valued at approximately $190,000. Geode Capital Management LLC increased its position in shares of Genelux by 1.8% during the second quarter. Geode Capital Management LLC now owns 318,825 shares of the company's stock valued at $915,000 after purchasing an additional 5,596 shares during the period. Marshall Wace LLP acquired a new position in shares of Genelux in the second quarter valued at $92,000. Finally, Raymond James Financial Inc. raised its stake in shares of Genelux by 22.6% in the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company's stock valued at $83,000 after purchasing an additional 5,333 shares in the last quarter. 37.33% of the stock is currently owned by 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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