Genelux (NASDAQ:GNLX) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Genelux (NASDAQ:GNLX) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Stock Performance

Shares of GNLX opened at $2.74 on Friday. Genelux has a 52-week low of $2.29 and a 52-week high of $8.53. The firm has a market cap of $122.86 million, a price-to-earnings ratio of -3.19 and a beta of 0.60. The business’s fifty day moving average is $2.89 and its 200-day moving average is $2.78.

Genelux (NASDAQ:GNLX) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). As a group, research analysts forecast that Genelux will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Genelux news, Director John W. Smither sold 12,000 shares of the business’s stock in a transaction 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 sale, the director owned 91,403 shares of the company’s stock, valued at approximately $265,982.73. The trade was a 11.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Thomas sold 10,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $2.98, for a total transaction of $29,800.00. Following the transaction, the director owned 472,784 shares of the company’s stock, valued at $1,408,896.32. This trade represents a 2.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 25,868 shares of company stock worth $76,120. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Genelux

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AMG National Trust Bank acquired a new stake in Genelux in the second quarter valued at $227,000. Flputnam Investment Management Co. bought a new position in Genelux during the 2nd quarter worth $697,000. Global Retirement Partners LLC acquired a new position in Genelux during the 2nd quarter worth about $686,000. GSA Capital Partners LLP bought a new stake in shares of Genelux in the 2nd quarter valued at about $35,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Genelux in the 4th quarter valued at about $52,000. Institutional investors and hedge funds 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.