Genelux (NASDAQ:GNLX) Releases Quarterly Earnings Results

Genelux (NASDAQ:GNLX) posted its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01), Zacks reports.

Genelux Price Performance

Genelux stock opened at $2.74 on Friday. The firm’s 50 day simple moving average is $2.89 and its 200-day simple moving average is $2.78. The company has a market cap of $122.86 million, a P/E ratio of -3.19 and a beta of 0.60. Genelux has a fifty-two week low of $2.29 and a fifty-two week high of $8.53.

Insider Buying and Selling

In related news, Director John Thomas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $2.98, for a total value of $29,800.00. Following the completion of the transaction, the director owned 472,784 shares of the company’s stock, valued at approximately $1,408,896.32. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Genelux 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 transaction, the director owned 91,403 shares in the company, valued at approximately $265,982.73. The trade was a 11.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,868 shares of company stock worth $76,120 in the last 90 days. 7.50% of the stock is owned by company insiders.

Institutional Trading of Genelux

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in shares of Genelux by 451.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 183,807 shares of the company’s stock valued at $801,000 after buying an additional 150,463 shares in the last quarter. 683 Capital Management LLC purchased a new stake in Genelux in the 4th quarter worth about $572,000. Marshall Wace LLP lifted its stake in Genelux by 312.3% in the 4th quarter. Marshall Wace LLP now owns 139,148 shares of the company’s stock worth $607,000 after acquiring an additional 105,402 shares in the last quarter. Millennium Management LLC purchased a new stake in Genelux in the 4th quarter worth about $455,000. Finally, Osaic Holdings Inc. boosted its position in Genelux by 1,911.4% during the 2nd quarter. Osaic Holdings Inc. now owns 105,016 shares of the company’s stock worth $301,000 after acquiring an additional 99,795 shares during the period. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Analysts Set New Price Targets

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

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.