Genelux (NASDAQ:GNLX) CEO Thomas Zindrick Sells 34,463 Shares of Stock

Key Points

• CEO Thomas Zindrick sold 34,463 Genelux shares at an average price of $2.67, generating $92,016.21. His remaining stake is 1,226,427 shares, a 2.73% reduction.
• GNLX shares fell to $2.55, near their 52-week low of $2.29 and well below the 52-week high of $8.53. The company also reported a quarterly EPS loss of $0.21, missing estimates by $0.01.
• Institutional investors own 37.33% of Genelux, while analyst sentiment remains mixed but leans toward a “Moderate Buy”, with an average price target of $18.00.

Genelux Corporation (NASDAQ:GNLX - Get Free Report) CEO Thomas Zindrick sold 34,463 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $2.67, for a total value of $92,016.21. Following the transaction, the chief executive officer owned 1,226,427 shares of the company's stock, valued at $3,274,560.09. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Thomas Zindrick also recently made the following trade(s):

• On Tuesday, August 4th, Thomas Zindrick sold 3,023 shares of Genelux stock. The stock was sold at an average price of $2.95, for a total transaction of $8,917.85.

Genelux Price Performance

Shares of GNLX stock traded down $0.05 on Wednesday, reaching $2.55. 158,117 shares of the company's stock were exchanged, compared to its average volume of 366,336. Genelux Corporation has a 52 week low of $2.29 and a 52 week high of $8.53. The company's fifty day simple moving average is $2.83 and its 200 day simple moving average is $2.78.

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 the consensus estimate of ($0.20) by ($0.01). As a group, sell-side analysts predict that Genelux Corporation will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On Genelux

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Genelux in the second quarter worth $1,323,000. Bank of America Corp DE acquired a new stake in shares of Genelux during the second quarter worth about $990,000. Flputnam Investment Management Co. acquired a new stake in shares of Genelux during the second quarter worth about $697,000. Global Retirement Partners LLC purchased a new stake in Genelux in the second quarter valued at approximately $686,000. Finally, Goldman Sachs Group Inc. raised its position in Genelux by 451.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 183,807 shares of the company's stock worth $801,000 after buying an additional 150,463 shares during the last quarter. Institutional investors and hedge funds own 37.33% of the company's stock.

Wall Street Analyst Weigh In

GNLX has been the subject of a number of analyst reports. Wall Street Zen upgraded Genelux from a "strong sell" rating to a "sell" rating in a report on Sunday, August 23rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Genelux in a research note on Friday, July 17th. Finally, Benchmark restated a "speculative buy" rating on shares of Genelux in a report on Tuesday, August 18th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

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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