Wall Street Zen upgraded shares of Genelux (NASDAQ:GNLX – Free Report) from a strong sell rating to a sell rating in a report published on Sunday morning.
A number of other equities research analysts have also recently weighed in on GNLX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th. Benchmark reissued a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.
View Our Latest Research Report on GNLX
Genelux Price Performance
Genelux (NASDAQ:GNLX – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Equities analysts forecast that Genelux will post -0.81 EPS for the current fiscal year.
Insider Activity
In related news, Director John W. Smither sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $2.91, for a total value of $34,920.00. Following the completion of the sale, the director owned 91,403 shares of the company’s stock, valued at $265,982.73. This represents a 11.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Thomas sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $2.98, for a total transaction of $29,800.00. Following the completion of the transaction, the director owned 472,784 shares of the company’s stock, valued at $1,408,896.32. This represents a 2.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,868 shares of company stock valued at $76,120 in the last ninety days. Corporate insiders own 7.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Genelux during the second quarter valued at approximately $1,323,000. Geode Capital Management LLC raised its holdings in Genelux by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 381,407 shares of the company’s stock worth $1,664,000 after purchasing an additional 27,567 shares in the last quarter. Bank of America Corp DE acquired a new stake in Genelux in the second quarter worth approximately $990,000. Flputnam Investment Management Co. acquired a new stake in Genelux in the second quarter worth approximately $697,000. Finally, Global Retirement Partners LLC acquired a new stake in Genelux in the second quarter worth approximately $686,000. 37.33% of the stock is currently owned by institutional investors.
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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