Genelux Corporation (NASDAQ:GNLX) Stock Has Average Price Target of $18.00

Shares of Genelux Corporation (NASDAQ:GNLX) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.00.

Several research firms recently commented on GNLX. Wall Street Zen lowered Genelux from a “sell” rating to a “strong sell” rating in a report on Saturday. Benchmark reaffirmed a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th.

Genelux Stock Up 2.1%

Shares of NASDAQ:GNLX opened at $2.48 on Friday. The firm’s 50 day moving average price is $2.68 and its 200 day moving average price is $2.76. The stock has a market cap of $112.20 million, a price-to-earnings ratio of -2.88 and a beta of 0.57. Genelux has a fifty-two week low of $2.29 and a fifty-two week high of $8.53.

Genelux (NASDAQ:GNLX) last posted its quarterly 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). On average, equities analysts anticipate that Genelux will post -0.81 EPS for the current year.

Insider Activity at Genelux

In other Genelux news, insider Yong Yu sold 9,683 shares of the 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 transaction, the insider directly owned 258,688 shares in the company, valued at $711,392. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Smither sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 represents a 11.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 59,822 shares of company stock valued at $164,402 over the last three months. 7.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genelux

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new stake in shares of Genelux during the second quarter worth about $257,000. Strive Financial Group LLC lifted its stake in Genelux by 728.7% in the second quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock valued at $125,000 after buying an additional 36,437 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Genelux in the second quarter valued at approximately $990,000. BlackRock Inc. acquired a new stake in shares of Genelux in the second quarter valued at approximately $1,323,000. Finally, AMG National Trust Bank purchased a new position in shares of Genelux during the second quarter worth approximately $227,000. 37.33% of the stock is owned by hedge funds and other institutional investors.

About Genelux

Genelux Corporation is a clinical-stage biotechnology company focused on developing and commercializing therapies for cancer. The company’s research centers on oncolytic immunotherapies, which are designed to selectively infect and destroy tumor cells while stimulating the body’s immune response against cancer.

Genelux’s lead investigational product is olvimulogene nanivacirepvec, also known as Olvi-Vec or GL-ONC1. Olvi-Vec is a modified vaccinia virus being evaluated in clinical studies for several solid tumors, including ovarian cancer and other advanced or recurrent cancers.