Genelux (NASDAQ:GNLX) Upgraded by Lucid Cap Mkts to “Strong-Buy” Rating

Genelux (NASDAQ:GNLX) was upgraded by equities research analysts at Lucid Cap Mkts to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

A number of other equities analysts have also commented on GNLX. Benchmark reissued a “speculative buy” rating on shares of Genelux in a research report on Tuesday, August 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Genelux from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given 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 $18.00.

Genelux Price Performance

Shares of NASDAQ:GNLX opened at $2.53 on Wednesday. The stock has a market capitalization of $114.46 million, a P/E ratio of -2.94 and a beta of 0.57. The business has a 50-day moving average of $2.71 and a two-hundred day moving average of $2.76. Genelux has a fifty-two week low of $2.29 and a fifty-two week high of $8.53.

Genelux (NASDAQ:GNLX) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). As a group, research analysts expect that Genelux will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas Zindrick sold 34,463 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $2.67, for a total transaction of $92,016.21. Following the transaction, the chief executive officer owned 1,226,427 shares of the company’s stock, valued at approximately $3,274,560.09. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Yong Yu sold 9,683 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $2.75, for a total transaction of $26,628.25. Following the transaction, the insider owned 258,688 shares of the company’s stock, valued at approximately $711,392. The trade was a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 59,822 shares of company stock valued at $164,402. 7.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genelux

Several hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new stake in Genelux during the second quarter worth about $257,000. Strive Financial Group LLC raised its holdings in Genelux by 728.7% in the 2nd quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock valued at $125,000 after acquiring an additional 36,437 shares in the last quarter. Bank of America Corp DE acquired a new position in Genelux in the 2nd quarter valued at approximately $990,000. BlackRock Inc. bought a new stake in shares of Genelux in the 2nd quarter worth approximately $1,323,000. Finally, AMG National Trust Bank bought a new stake in shares of Genelux in the 2nd quarter worth approximately $227,000. Institutional investors own 37.33% of the company’s stock.

Genelux Company Profile

Genelux Corporation is a clinical-stage biotechnology company focused on developing and commercializing therapies for cancer. The company’s research centers on oncolytic immunotherapies, which are designed to selectively infect and destroy tumor cells while stimulating the body’s immune response against cancer.

Genelux’s lead investigational product is olvimulogene nanivacirepvec, also known as Olvi-Vec or GL-ONC1. Olvi-Vec is a modified vaccinia virus being evaluated in clinical studies for several solid tumors, including ovarian cancer and other advanced or recurrent cancers.