Genelux (NASDAQ:GNLX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Genelux (NASDAQ:GNLX) announced its quarterly earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02, Zacks reports.

Genelux Stock Performance

Shares of NASDAQ:GNLX traded down $0.27 during trading on Wednesday, reaching $7.84. The stock had a trading volume of 337,310 shares, compared to its average volume of 182,967. The business has a fifty day moving average price of $5.01 and a 200-day moving average price of $3.71. The stock has a market cap of $296.14 million, a PE ratio of -9.12 and a beta of -0.10. Genelux has a 1-year low of $1.99 and a 1-year high of $8.54.

Institutional Trading of Genelux

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. boosted its stake in Genelux by 22.6% during the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock worth $83,000 after buying an additional 5,333 shares during the last quarter. Marshall Wace LLP acquired a new position in Genelux during the second quarter worth $92,000. Jane Street Group LLC acquired a new position in Genelux during the first quarter worth $190,000. Goldman Sachs Group Inc. acquired a new position in Genelux during the first quarter worth $239,000. Finally, Osaic Holdings Inc. boosted its stake in Genelux by 1,911.4% during the second 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Lake Street Capital assumed coverage on Genelux in a research report on Tuesday, October 21st. They set a “buy” rating and a $16.00 price target for the company. Maxim Group set a $20.00 price objective on Genelux in a research report on Tuesday, October 21st. Loop Capital set a $16.00 price objective on Genelux in a research report on Tuesday, October 21st. Wall Street Zen upgraded Genelux from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.