Genelux (NASDAQ:GNLX) Rating Lowered to Strong Sell at Wall Street Zen

Genelux (NASDAQ:GNLX) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Genelux Price Performance

GNLX opened at $2.74 on Friday. Genelux has a fifty-two week low of $2.29 and a fifty-two week high of $8.53. The firm’s fifty day moving average price is $2.89 and its two-hundred day moving average price is $2.78. The company has a market capitalization of $122.86 million, a P/E ratio of -3.19 and a beta of 0.60.

Genelux (NASDAQ:GNLX) last announced its quarterly 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). On average, equities research analysts expect that Genelux will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at Genelux

In related news, Director John Thomas sold 10,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $2.98, for a total value of $29,800.00. Following the sale, the director owned 472,784 shares of the company’s stock, valued at $1,408,896.32. The trade was a 2.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Smither sold 12,000 shares of the company’s stock in a transaction on 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 in the company, valued at $265,982.73. This trade represents a 11.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 25,868 shares of company stock worth $76,120. 7.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in shares of Genelux in the 1st quarter worth about $239,000. Jane Street Group LLC acquired a new stake in shares of Genelux during the 1st quarter worth about $190,000. Geode Capital Management LLC lifted its holdings in Genelux by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 318,825 shares of the company’s stock valued at $915,000 after purchasing an additional 5,596 shares during the last quarter. Marshall Wace LLP bought a new position in Genelux during the 2nd quarter valued at about $92,000. Finally, Raymond James Financial Inc. boosted its position in Genelux by 22.6% in the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock valued at $83,000 after buying an additional 5,333 shares in the last quarter. 37.33% of the stock is owned by institutional investors.

Genelux Company Profile

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.