Wall Street Zen Downgrades Genelux (NASDAQ:GNLX) to Sell

Key Points

• Wall Street Zen downgraded Genelux (GNLX) from "hold" to "sell", joining Weiss Ratings' sell view while analyst opinions remain mixed — MarketBeat shows a consensus "Moderate Buy" with a $18.00 price target.
• Genelux reported a quarterly EPS loss of ($0.24), missing estimates and with analysts forecasting -0.88 EPS for the year; the stock trades around $2.54 with a $113.8M market cap and a 1‑year range of $2.21–$8.53.
• An insider sold 10,000 shares in March and insiders own 8.8% of the company while institutional investors hold about 37.33%, including recent new positions by Goldman Sachs and Jane Street.

Genelux (NASDAQ:GNLX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Genelux in a report on Thursday, January 22nd. Benchmark decreased their target price on Genelux from $23.00 to $20.00 and set a "speculative buy" rating on the stock in a research report on Friday, March 20th. Finally, HC Wainwright restated a "buy" rating on shares of Genelux in a research report on Monday, January 5th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Genelux Stock Performance

Shares of NASDAQ GNLX opened at $2.54 on Friday. The company's fifty day moving average price is $2.62 and its 200 day moving average price is $4.01. Genelux has a 1 year low of $2.21 and a 1 year high of $8.53. The company has a market capitalization of $113.82 million, a PE ratio of -2.95 and a beta of 0.47.

Genelux (NASDAQ:GNLX - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). The company had revenue of $0.01 million for the quarter. On average, equities analysts expect that Genelux will post -0.88 EPS for the current year.

Insider Buying and Selling

In related news, Director John Thomas sold 10,000 shares of Genelux stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $2.90, for a total transaction of $29,000.00. Following the transaction, the director owned 482,784 shares in the company, valued at approximately $1,400,073.60. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.80% of the company's stock.

Hedge Funds Weigh In On Genelux

A number of institutional investors have recently added to or reduced their stakes in GNLX. Goldman Sachs Group Inc. purchased a new position in Genelux during the first quarter worth approximately $239,000. Jane Street Group LLC purchased a new position in Genelux during the first quarter worth approximately $190,000. Geode Capital Management LLC raised its stake in Genelux by 1.8% during the second quarter. Geode Capital Management LLC now owns 318,825 shares of the company's stock worth $915,000 after purchasing an additional 5,596 shares during the period. Marshall Wace LLP purchased a new position in Genelux during the second quarter worth about $92,000. Finally, Raymond James Financial Inc. raised its stake in Genelux by 22.6% during the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company's stock worth $83,000 after purchasing an additional 5,333 shares during the period. Hedge funds and other 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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