HC Wainwright Issues Positive Outlook for Genelux Earnings

Key Points

• HC Wainwright raised its FY2028 EPS estimate for Genelux to $0.64 from $0.63 and also projected stronger profits ahead, including $1.69 EPS for FY2029 and $2.61 for FY2030.
• Genelux recently reported a smaller-than-expected quarterly loss of $0.20 per share, missing the consensus estimate by $0.02.
• Analyst sentiment remains mixed but generally positive, with a consensus rating of “Moderate Buy” and a $18.00 target price, despite the stock trading near $3.11.

Genelux Corporation (NASDAQ:GNLX - Free Report) - Investment analysts at HC Wainwright increased their FY2028 EPS estimates for Genelux in a research note issued to investors on Friday, May 8th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of $0.64 for the year, up from their previous estimate of $0.63. The consensus estimate for Genelux's current full-year earnings is ($0.74) per share. HC Wainwright also issued estimates for Genelux's FY2029 earnings at $1.69 EPS and FY2030 earnings at $2.61 EPS.

Genelux (NASDAQ:GNLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02).

GNLX has been the topic of a number of other reports. Benchmark cut their target price on Genelux from $23.00 to $20.00 and set a "speculative buy" rating on the stock in a research note on Friday, March 20th. Wall Street Zen lowered Genelux from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Genelux in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Genelux Stock Performance

Shares of NASDAQ:GNLX opened at $3.11 on Monday. The stock has a fifty day simple moving average of $2.64 and a two-hundred day simple moving average of $3.75. Genelux has a 12-month low of $2.29 and a 12-month high of $8.53. The stock has a market capitalization of $139.45 million, a price-to-earnings ratio of -3.66 and a beta of 0.51.

Insider Transactions at Genelux

In related news, Director John Thomas sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $2.90, for a total value of $29,000.00. Following the transaction, the director directly owned 482,784 shares of the company's stock, valued at approximately $1,400,073.60. This represents a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.50% of the company's stock.

Institutional Trading of Genelux

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Genelux by 451.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 183,807 shares of the company's stock valued at $801,000 after purchasing an additional 150,463 shares in the last quarter. 683 Capital Management LLC purchased a new stake in shares of Genelux during the fourth quarter valued at $572,000. Marshall Wace LLP increased its holdings in Genelux by 312.3% in the 4th quarter. Marshall Wace LLP now owns 139,148 shares of the company's stock worth $607,000 after buying an additional 105,402 shares in the last quarter. Millennium Management LLC bought a new stake in Genelux in the 4th quarter worth about $455,000. Finally, Osaic Holdings Inc. raised its position in Genelux by 1,911.4% in the 2nd quarter. Osaic Holdings Inc. now owns 105,016 shares of the company's stock worth $301,000 after buying an additional 99,795 shares during the last quarter. Institutional investors 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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