Genelux (NASDAQ:GNLX) Trading Up 3.4% – Still a Buy?

Genelux Corporation (NASDAQ:GNLX)’s share price was up 3.4% during mid-day trading on Thursday . The stock traded as high as $8.17 and last traded at $7.96. Approximately 264,918 shares changed hands during trading, an increase of 14% from the average daily volume of 232,956 shares. The stock had previously closed at $7.70.

Analyst Ratings Changes

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

Genelux Trading Up 3.4%

The business has a 50-day moving average price of $4.75 and a 200 day moving average price of $3.58. The stock has a market cap of $300.65 million, a PE ratio of -9.26 and a beta of -0.22.

Genelux (NASDAQ:GNLX) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. On average, equities analysts predict that Genelux Corporation will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GNLX. Goldman Sachs Group Inc. purchased a new stake in Genelux during the 1st quarter worth about $239,000. Alyeska Investment Group L.P. purchased a new stake in Genelux during the 1st quarter worth about $770,000. Woodward Diversified Capital LLC lifted its holdings in Genelux by 21.7% during the 2nd quarter. Woodward Diversified Capital LLC now owns 1,778,286 shares of the company’s stock worth $5,104,000 after purchasing an additional 317,173 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Genelux during the 1st quarter worth about $215,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Genelux during the 1st quarter worth about $68,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Genelux Company Profile

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.