Genelux (NASDAQ:GNLX) Stock Price Down 2.4% – Should You Sell?

Genelux Corporation (NASDAQ:GNLX)’s share price was down 2.4% on Friday . The company traded as low as $2.85 and last traded at $2.89. Approximately 153,608 shares changed hands during trading, a decline of 9% from the average daily volume of 168,931 shares. The stock had previously closed at $2.96.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GNLX shares. Wall Street Zen cut shares of Genelux from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Genelux has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Price Performance

The stock has a market cap of $129.59 million, a P/E ratio of -3.40 and a beta of 0.58. The stock has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $2.79.

Genelux (NASDAQ:GNLX) last posted its earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). As a group, sell-side analysts forecast that Genelux Corporation will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John W. 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 value of $34,920.00. Following the completion of the transaction, the director owned 91,403 shares of the company’s stock, valued at $265,982.73. This represents a 11.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $29,800.00. Following the completion of the sale, the director owned 472,784 shares in the company, valued at $1,408,896.32. This represents a 2.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 25,865 shares of company stock valued at $76,110. 7.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genelux

Hedge funds and other institutional investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new position in Genelux in the 4th quarter worth about $94,000. Align Financial LLC acquired a new stake in shares of Genelux during the fourth quarter valued at about $123,000. Squarepoint Ops LLC bought a new stake in shares of Genelux during the fourth quarter worth about $52,000. Jefferies Financial Group Inc. bought a new stake in shares of Genelux during the fourth quarter worth about $48,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Genelux by 101.3% in the third quarter. Qube Research & Technologies Ltd now owns 37,224 shares of the company’s stock valued at $156,000 after buying an additional 18,734 shares during the period. Institutional investors own 37.33% of the company’s stock.

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.