Genelux (NASDAQ:GNLX) Issues Earnings Results, Misses Expectations By $0.02 EPS

Genelux (NASDAQ:GNLX) issued its earnings results on Thursday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02), FiscalAI reports. The business had revenue of $0.01 million during the quarter.

Genelux Price Performance

Shares of NASDAQ:GNLX opened at $2.45 on Friday. The company’s fifty day moving average price is $2.69 and its 200-day moving average price is $4.15. The firm has a market capitalization of $93.03 million, a price-to-earnings ratio of -2.75 and a beta of 0.15. Genelux has a one year low of $1.99 and a one year high of $8.53.

Insider Transactions at Genelux

In related news, Director John Thomas sold 10,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $2.90, for a total value of $29,000.00. Following the transaction, the director owned 482,784 shares of the company’s stock, valued at $1,400,073.60. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new position in shares of Genelux during the first quarter valued at approximately $239,000. Jane Street Group LLC purchased a new stake in shares of Genelux during the 1st quarter valued at about $190,000. Geode Capital Management LLC lifted its stake in shares of Genelux by 1.8% in the 2nd 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. MAI Capital Management lifted its holdings in Genelux by 66,161.3% during the second quarter. MAI Capital Management now owns 236,553 shares of the company’s stock valued at $679,000 after purchasing an additional 236,196 shares in the last quarter. Finally, Private Management Group Inc. bought a new stake in shares of Genelux during the second quarter valued at approximately $33,000. Institutional investors own 37.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Genelux from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. HC Wainwright reaffirmed a “buy” rating on shares of Genelux in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

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.