Genelux (NASDAQ:GNLX – Get Free Report) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.
Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research note on Friday, July 17th. Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a report on Wednesday, September 16th. Finally, Benchmark restated a “speculative buy” rating on shares of Genelux in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.00.
View Our Latest Research Report on Genelux
Genelux Price Performance
Genelux (NASDAQ:GNLX – Get Free Report) last released its 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). Equities research analysts anticipate that Genelux will post -0.81 earnings per share for the current year.
Insider Activity
In related news, CEO Thomas Zindrick sold 34,463 shares of Genelux stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $2.67, for a total transaction of $92,016.21. Following the transaction, the chief executive officer directly owned 1,226,427 shares of the company’s stock, valued at $3,274,560.09. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Smither sold 12,000 shares of Genelux stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $2.91, for a total transaction of $34,920.00. Following the completion of the transaction, the director directly owned 91,403 shares in the company, valued at $265,982.73. This represents a 11.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,822 shares of company stock worth $164,402 over the last 90 days. 7.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Genelux during the 2nd quarter worth approximately $1,323,000. Bank of America Corp DE bought a new stake in Genelux in the second quarter worth $990,000. Flputnam Investment Management Co. acquired a new stake in Genelux in the 2nd quarter worth approximately $697,000. Global Retirement Partners LLC acquired a new position in shares of Genelux during the 2nd quarter worth about $686,000. Finally, Citadel Advisors LLC bought a new position in Genelux during the second quarter worth $257,000. 37.33% of the stock is currently owned by institutional investors and hedge funds.
About Genelux
Genelux Corporation is a clinical-stage biotechnology company focused on developing and commercializing therapies for cancer. The company’s research centers on oncolytic immunotherapies, which are designed to selectively infect and destroy tumor cells while stimulating the body’s immune response against cancer.
Genelux’s lead investigational product is olvimulogene nanivacirepvec, also known as Olvi-Vec or GL-ONC1. Olvi-Vec is a modified vaccinia virus being evaluated in clinical studies for several solid tumors, including ovarian cancer and other advanced or recurrent cancers.
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