Genelux (NASDAQ:GNLX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Genelux (NASDAQ:GNLX) from a strong sell rating to a sell rating in a research report report published on Sunday,Wall Street Zen reports.

Several other equities analysts also recently weighed in on GNLX. Benchmark restated a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th. Finally, Lucid Cap Mkts upgraded shares of Genelux to a “strong-buy” rating in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Genelux currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Genelux Stock Performance

Genelux stock opened at $2.54 on Friday. Genelux has a fifty-two week low of $2.29 and a fifty-two week high of $8.53. The firm has a market capitalization of $114.92 million, a price-to-earnings ratio of -2.95 and a beta of 0.59. The stock’s fifty day moving average is $2.62 and its two-hundred day moving average is $2.75.

Genelux (NASDAQ:GNLX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). As a group, sell-side analysts forecast that Genelux will post -0.81 EPS for the current fiscal year.

Insider Transactions at Genelux

In other news, insider Yong Yu sold 9,683 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $2.75, for a total value of $26,628.25. Following the completion of the transaction, the insider owned 258,688 shares of the company’s stock, valued at $711,392. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Zindrick sold 34,463 shares of the company’s stock in a transaction that occurred 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 directly owned 1,226,427 shares in the company, valued at $3,274,560.09. The trade was a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 47,822 shares of company stock valued at $129,482. Insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GNLX. BlackRock Inc. acquired a new stake in shares of Genelux during the second quarter worth $1,323,000. Bank of America Corp DE purchased a new position in Genelux during the second quarter worth about $990,000. Flputnam Investment Management Co. acquired a new stake in Genelux in the 2nd quarter worth about $697,000. Global Retirement Partners LLC acquired a new stake in Genelux in the 2nd quarter worth about $686,000. Finally, Citadel Advisors LLC purchased a new stake in Genelux in the 2nd quarter valued at about $257,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

About Genelux

Genelux Corporation is a clinical-stage biotechnology company focused on developing novel cancer treatments based on oncolytic virus immunotherapies. The company’s platform is designed to use genetically modified viruses to selectively infect and destroy tumor cells while stimulating the patient’s immune system to recognize and attack cancer.

Genelux’s lead product candidate is Olvi-Vec (olvimulogene nanivacirepvec), a proprietary modified vaccinia virus being studied in combination with other therapies for advanced solid tumors.