Genelux (NASDAQ:GNLX) Stock Rating Upgraded by Wall Street Zen

Genelux (NASDAQ:GNLX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts have also commented on GNLX. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a report on Thursday, January 22nd. Benchmark cut their target price on shares of Genelux from $23.00 to $20.00 and set a “speculative buy” rating on the stock in a research note on Friday. Finally, HC Wainwright reiterated a “buy” rating on shares of Genelux in a research report on Monday, January 5th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Genelux Stock Performance

Shares of GNLX stock opened at $2.40 on Friday. Genelux has a fifty-two week low of $1.99 and a fifty-two week high of $8.53. The firm has a market cap of $107.54 million, a P/E ratio of -2.79 and a beta of 0.15. The business’s 50 day moving average price is $2.68 and its 200-day moving average price is $4.15.

Genelux (NASDAQ:GNLX) last announced its earnings results on Thursday, March 19th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The company had revenue of $0.01 million during the quarter. As a group, equities analysts predict that Genelux will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other Genelux 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 completion of the transaction, the director owned 482,784 shares in the company, valued at approximately $1,400,073.60. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.80% of the stock is currently owned by insiders.

Institutional Trading of Genelux

A number of hedge funds and other institutional investors have recently modified their holdings of GNLX. Flputnam Investment Management Co. increased its stake in shares of Genelux by 708.1% in the 3rd quarter. Flputnam Investment Management Co. now owns 300,290 shares of the company’s stock worth $1,261,000 after acquiring an additional 263,131 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Genelux during the second quarter worth about $656,000. MAI Capital Management boosted its stake in Genelux by 66,161.3% during the second quarter. MAI Capital Management now owns 236,553 shares of the company’s stock worth $679,000 after acquiring an additional 236,196 shares in the last quarter. Private Management Group Inc. purchased a new stake in Genelux in the second quarter worth about $33,000. Finally, Creative Planning increased its stake in shares of Genelux by 4.7% during the third quarter. Creative Planning now owns 46,108 shares of the company’s stock valued at $194,000 after purchasing an additional 2,084 shares in the last quarter. 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.