Genelux (NASDAQ:GNLX) Shares Down 2.4% – Should You Sell?

Genelux Corporation (NASDAQ:GNLX)’s stock price dropped 2.4% during mid-day trading on Friday . The stock traded as low as $2.85 and last traded at $2.89. Approximately 153,608 shares were traded during trading, a decline of 9% from the average daily volume of 168,931 shares. The stock had previously closed at $2.96.

Wall Street Analyst Weigh In

A number of research firms recently commented on GNLX. Wall Street Zen cut Genelux from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Genelux Trading Down 2.4%

The firm has a market cap of $129.59 million, a PE ratio of -3.40 and a beta of 0.58. The firm’s 50 day simple moving average is $2.94 and its 200 day simple moving average is $2.79.

Genelux (NASDAQ:GNLX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.02). As a group, equities research analysts predict that Genelux Corporation will post -0.8 earnings per share for the current fiscal year.

Insider Transactions at Genelux

In other Genelux news, Director John W. Smither sold 12,000 shares of the firm’s 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 owned 91,403 shares in the company, valued at $265,982.73. This trade represents a 11.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Thomas sold 10,000 shares of Genelux stock in a transaction that occurred 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 completion of the sale, the director directly owned 472,784 shares in the company, valued at approximately $1,408,896.32. The trade was a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,865 shares of company stock worth $76,110 over the last quarter. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GNLX. Jefferies Financial Group Inc. bought a new stake in Genelux in the fourth quarter worth $48,000. Squarepoint Ops LLC bought a new position in Genelux during the fourth quarter valued at $52,000. Raymond James Financial Inc. grew its stake in shares of Genelux by 22.6% in the 2nd quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock worth $83,000 after buying an additional 5,333 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Genelux in the 2nd quarter worth $92,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Genelux in the 4th quarter worth $94,000. 37.33% of the stock is owned by hedge funds and other 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.