Genelux (NASDAQ:GNLX) Upgraded 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 note released on Tuesday,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on the company. Lucid Cap Mkts upgraded Genelux to a “strong-buy” rating in a report on Wednesday, September 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research report on Thursday, October 15th. Finally, Benchmark reissued a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Genelux has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Genelux Price Performance

GNLX stock opened at $1.98 on Tuesday. The company has a 50 day moving average price of $2.53 and a 200 day moving average price of $2.74. Genelux has a fifty-two week low of $1.96 and a fifty-two week high of $8.53. The stock has a market capitalization of $89.58 million, a PE ratio of -2.30 and a beta of 0.59.

Genelux (NASDAQ:GNLX) last released its earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). As a group, equities analysts expect that Genelux will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Genelux news, insider Yong Yu sold 9,683 shares of the company’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 completion of the sale, the insider owned 258,688 shares of the company’s stock, valued at approximately $711,392. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Zindrick sold 34,463 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $2.67, for a total transaction of $92,016.21. Following the completion of the sale, the chief executive officer owned 1,226,427 shares in the company, valued at approximately $3,274,560.09. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 47,822 shares of company stock valued at $129,482. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Genelux

Several hedge funds have recently added to or reduced their stakes in the business. Woodward Diversified Capital LLC increased its holdings in shares of Genelux by 5.2% in the third quarter. Woodward Diversified Capital LLC now owns 2,378,755 shares of the company’s stock worth $6,018,000 after acquiring an additional 116,647 shares in the last quarter. BlackRock Inc. bought a new position in shares of Genelux during the 2nd quarter valued at about $1,323,000. Bank of America Corp DE bought a new position in shares of Genelux during the 2nd quarter valued at about $990,000. Flputnam Investment Management Co. acquired a new position in shares of Genelux in the 2nd quarter valued at approximately $697,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Genelux in the 2nd quarter valued at approximately $686,000. Institutional investors and hedge funds 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.