Genelux (NASDAQ:GNLX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Genelux (NASDAQ:GNLX) issued its quarterly earnings results on Wednesday. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.02, Zacks reports.

Genelux Trading Down 3.3%

GNLX stock traded down $0.27 during midday trading on Wednesday, hitting $7.84. The company’s stock had a trading volume of 337,460 shares, compared to its average volume of 182,967. The firm’s 50-day moving average is $5.01 and its 200-day moving average is $3.71. Genelux has a 12 month low of $1.99 and a 12 month high of $8.54. The company has a market cap of $296.14 million, a PE ratio of -9.12 and a beta of -0.10.

Analyst Upgrades and Downgrades

GNLX has been the topic of a number of recent research reports. Maxim Group set a $20.00 price objective on shares of Genelux in a report on Tuesday, October 21st. HC Wainwright reissued a “buy” rating on shares of Genelux in a research report on Wednesday, July 23rd. Wall Street Zen raised Genelux from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Lake Street Capital began coverage on Genelux in a research note on Tuesday, October 21st. They set a “buy” rating and a $16.00 price objective for the company. Finally, Loop Capital set a $16.00 target price on Genelux in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Genelux has an average rating of “Moderate Buy” and an average target price of $21.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. boosted its position in shares of Genelux by 22.6% during the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock valued at $83,000 after buying an additional 5,333 shares during the last quarter. Geode Capital Management LLC raised its position in Genelux by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 318,825 shares of the company’s stock worth $915,000 after buying an additional 5,596 shares during the last quarter. Marshall Wace LLP bought a new position in Genelux during the 2nd quarter valued at about $92,000. Jane Street Group LLC purchased a new stake in shares of Genelux during the 1st quarter valued at about $190,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Genelux during the 1st quarter valued at about $239,000. 37.33% of the stock is owned by institutional investors.

About Genelux

Genelux Corporation, a clinical-stage biopharmaceutical company, focuses on developing next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Its lead product candidate is Olvi-Vec, a proprietary modified strain of the vaccinia virus for the treatment of ovarian cancer and non-small cell lung cancer.