Genelux (NASDAQ:GNLX) Releases Earnings Results, Misses Estimates By $0.01 EPS

Genelux (NASDAQ:GNLX) released its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01), Zacks reports.

Genelux Trading Down 2.6%

GNLX stock opened at $2.63 on Friday. The company has a market cap of $117.93 million, a P/E ratio of -3.09 and a beta of 0.60. Genelux has a 52 week low of $2.29 and a 52 week high of $8.53. The company’s 50-day moving average price is $2.89 and its 200 day moving average price is $2.78.

Insiders Place Their Bets

In other Genelux news, Director John W. Smither sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $2.91, for a total value of $34,920.00. Following the sale, the director directly owned 91,403 shares of the company’s stock, valued at approximately $265,982.73. This trade represents a 11.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Thomas sold 10,000 shares of Genelux stock in a transaction 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 transaction, the director owned 472,784 shares in the company, valued at approximately $1,408,896.32. This trade represents a 2.07% decrease in their position. 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 quarter, insiders have sold 25,868 shares of company stock worth $76,120. 7.50% of the stock is owned by insiders.

Institutional Trading of Genelux

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in shares of Genelux by 451.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 183,807 shares of the company’s stock valued at $801,000 after buying an additional 150,463 shares during the period. 683 Capital Management LLC bought a new stake in shares of Genelux in the 4th quarter worth about $572,000. Marshall Wace LLP raised its stake in Genelux by 312.3% during the fourth quarter. Marshall Wace LLP now owns 139,148 shares of the company’s stock valued at $607,000 after buying an additional 105,402 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Genelux during the 4th quarter valued at approximately $455,000. Finally, Osaic Holdings Inc. lifted its position in shares of Genelux by 1,911.4% in the 2nd quarter. Osaic Holdings Inc. now owns 105,016 shares of the company’s stock worth $301,000 after buying an additional 99,795 shares during the last quarter. 37.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.