Genelux (NASDAQ:GNLX) Rating Lowered to Sell at Wall Street Zen
by Jessica Moore · The Cerbat GemGenelux (NASDAQ:GNLX – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a research note on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating on shares of Genelux in a research note on Monday, January 5th. Finally, Benchmark dropped their price objective on shares of Genelux from $23.00 to $20.00 and set a “speculative buy” rating on the stock in a research note on Friday, March 20th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Genelux currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.
View Our Latest Research Report on GNLX
Genelux Stock Performance
Shares of NASDAQ:GNLX opened at $2.54 on Friday. Genelux has a twelve month low of $2.21 and a twelve month high of $8.53. The company’s 50 day moving average is $2.62 and its 200 day moving average is $4.01. The company has a market cap of $113.81 million, a PE ratio of -2.95 and a beta of 0.47.
Genelux (NASDAQ:GNLX – Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $0.01 million for the quarter. Equities research analysts predict that Genelux will post -0.88 earnings per share for the current fiscal year.
Insider Activity at Genelux
In other news, Director John Thomas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $2.90, for a total transaction of $29,000.00. Following the sale, the director owned 482,784 shares of the company’s stock, valued at $1,400,073.60. This trade represents a 2.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.80% of the stock is owned by insiders.
Institutional Investors Weigh In On Genelux
Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new position in shares of Genelux during the 1st quarter valued at approximately $239,000. Jane Street Group LLC purchased a new position in shares of Genelux during the 1st quarter valued at approximately $190,000. Geode Capital Management LLC lifted its position in shares of Genelux by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 318,825 shares of the company’s stock valued at $915,000 after buying an additional 5,596 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Genelux during the 2nd quarter valued at approximately $92,000. Finally, Raymond James Financial Inc. lifted its position in shares of Genelux by 22.6% during the 2nd quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock valued at $83,000 after buying an additional 5,333 shares in the last quarter. 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.