Insider Selling: Genelux Co. (NASDAQ:GNLX) Major Shareholder Sells $82,205.12 in Stock

Genelux Co. (NASDAQ:GNLX) major shareholder Aladar Szalay sold 31,376 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $2.62, for a total value of $82,205.12. Following the transaction, the insider now directly owns 664,678 shares of the company’s stock, valued at approximately $1,741,456.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Aladar Szalay also recently made the following trade(s):

• On Friday, September 13th, Aladar Szalay sold 33,080 shares of Genelux stock. The shares were sold at an average price of $2.57, for a total value of $85,015.60.
• On Monday, September 9th, Aladar Szalay sold 23,383 shares of Genelux stock. The shares were sold at an average price of $2.70, for a total transaction of $63,134.10.
• On Tuesday, September 3rd, Aladar Szalay sold 42,818 shares of Genelux stock. The stock was sold at an average price of $2.09, for a total transaction of $89,489.62.
• On Thursday, August 29th, Aladar Szalay sold 107,045 shares of Genelux stock. The shares were sold at an average price of $1.98, for a total transaction of $211,949.10.
• On Tuesday, August 27th, Aladar Szalay sold 51,630 shares of Genelux stock. The stock was sold at an average price of $2.11, for a total transaction of $108,939.30.
• On Friday, August 23rd, Aladar Szalay sold 40,000 shares of Genelux stock. The shares were sold at an average price of $2.29, for a total value of $91,600.00.

Genelux Trading Down 8.6 %

Shares of NASDAQ:GNLX opened at $2.44 on Friday. Genelux Co. has a 12-month low of $1.60 and a 12-month high of $30.44. The stock has a market capitalization of $84.25 million, a price-to-earnings ratio of -2.52 and a beta of -1.55. The stock has a fifty day simple moving average of $2.21 and a two-hundred day simple moving average of $3.44.

Genelux (NASDAQ:GNLX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). As a group, equities research analysts predict that Genelux Co. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

GNLX has been the subject of a number of research analyst reports. Roth Mkm began coverage on Genelux in a research note on Tuesday, August 27th. They issued a “buy” rating and a $10.00 target price for the company. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Genelux in a report on Thursday, August 15th. Benchmark reduced their target price on shares of Genelux from $30.00 to $25.00 and set a “speculative buy” rating on the stock in a research report on Friday, May 31st. Finally, Roth Capital raised shares of Genelux to a “strong-buy” rating in a research report on Tuesday, August 27th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Genelux currently has an average rating of “Buy” and a consensus price target of $22.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Woodward Diversified Capital LLC boosted its position in shares of Genelux by 0.3% during the first quarter. Woodward Diversified Capital LLC now owns 1,085,957 shares of the company’s stock valued at $6,983,000 after buying an additional 3,687 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Genelux by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,023,030 shares of the company’s stock valued at $6,578,000 after acquiring an additional 24,220 shares during the last quarter. Armistice Capital LLC bought a new stake in shares of Genelux in the second quarter worth approximately $1,755,000. Highbridge Capital Management LLC purchased a new position in shares of Genelux during the second quarter valued at approximately $1,231,000. Finally, Affinity Asset Advisors LLC bought a new position in Genelux during the second quarter valued at approximately $195,000. Institutional investors own 37.33% of the company’s stock.

About Genelux

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.