Vanguard Group Inc. Purchases 925,258 Shares of Genelux Co. (NASDAQ:GNLX)

Vanguard Group Inc. lifted its stake in Genelux Co. (NASDAQ:GNLX - Free Report) by 1,660.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 980,993 shares of the company's stock after purchasing an additional 925,258 shares during the quarter. Vanguard Group Inc. owned 3.67% of Genelux worth $24,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Provident Wealth Management LLC purchased a new position in Genelux in the 3rd quarter worth about $8,211,000. AE Wealth Management LLC raised its position in Genelux by 1,370.0% in the 3rd quarter. AE Wealth Management LLC now owns 194,875 shares of the company's stock worth $4,772,000 after buying an additional 181,618 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Genelux by 689.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,609 shares of the company's stock worth $3,615,000 after buying an additional 128,909 shares during the last quarter. BlackRock Inc. raised its position in Genelux by 884.8% in the 2nd quarter. BlackRock Inc. now owns 142,799 shares of the company's stock worth $4,672,000 after buying an additional 128,298 shares during the last quarter. Finally, Northern Trust Corp raised its position in Genelux by 391.2% in the 3rd quarter. Northern Trust Corp now owns 160,816 shares of the company's stock worth $3,938,000 after buying an additional 128,079 shares during the last quarter. Hedge funds and other institutional investors own 37.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GNLX. HC Wainwright decreased their target price on Genelux from $35.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, April 2nd. Benchmark restated a "speculative buy" rating and set a $30.00 price target on shares of Genelux in a research note on Wednesday, April 3rd.

Genelux Trading Down 3.7 %

Shares of Genelux stock traded down $0.16 during trading hours on Friday, reaching $4.12. 83,674 shares of the stock traded hands, compared to its average volume of 101,445. The company has a 50 day moving average price of $6.66 and a 200 day moving average price of $12.05. Genelux Co. has a one year low of $4.03 and a one year high of $40.98.

Genelux Company Profile

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.