Genelux (NASDAQ:GNLX) Stock Rating Raised to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Genelux (NASDAQ:GNLX) from a strong sell rating to a sell rating in a research report released on Tuesday,Wall Street Zen reports.

A number of other analysts have also commented on GNLX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research note on Thursday, October 15th. Benchmark restated a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. Finally, Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Genelux Trading Up 2.0%

Genelux stock opened at $2.50 on Tuesday. Genelux has a 12 month low of $2.29 and a 12 month high of $8.53. The stock has a fifty day simple moving average of $2.56 and a two-hundred day simple moving average of $2.75. The firm has a market cap of $113.10 million, a price-to-earnings ratio of -2.91 and a beta of 0.59.

Genelux (NASDAQ:GNLX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). On average, equities research analysts forecast that Genelux will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at Genelux

In other news, CEO Thomas Zindrick sold 34,463 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $2.67, for a total value of $92,016.21. Following the transaction, the chief executive officer owned 1,226,427 shares of the company’s stock, valued at $3,274,560.09. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yong Yu sold 9,683 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $2.75, for a total value of $26,628.25. Following the transaction, the insider owned 258,688 shares of the company’s stock, valued at approximately $711,392. This trade represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 47,822 shares of company stock worth $129,482 over the last quarter. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genelux

Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in Genelux in the 2nd quarter worth $35,000. Strive Financial Group LLC raised its holdings in Genelux by 728.7% during the second quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock valued at $125,000 after acquiring an additional 36,437 shares during the period. SteelPeak Wealth LLC boosted its stake in shares of Genelux by 458.9% in the first quarter. SteelPeak Wealth LLC now owns 60,895 shares of the company’s stock worth $147,000 after acquiring an additional 50,000 shares during the period. AMG National Trust Bank purchased a new stake in shares of Genelux during the second quarter worth about $227,000. Finally, Citadel Advisors LLC purchased a new position in Genelux during the second quarter valued at $257,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

About Genelux

Genelux Corporation is a clinical-stage biotechnology company focused on developing novel cancer treatments based on oncolytic virus immunotherapies. The company’s platform is designed to use genetically modified viruses to selectively infect and destroy tumor cells while stimulating the patient’s immune system to recognize and attack cancer.

Genelux’s lead product candidate is Olvi-Vec (olvimulogene nanivacirepvec), a proprietary modified vaccinia virus being studied in combination with other therapies for advanced solid tumors.