Genelux Co. (NASDAQ:GNLX) Forecasted to Earn Q3 2024 Earnings of ($0.20) Per Share

Genelux Co. (NASDAQ:GNLX) – Stock analysts at Brookline Capital Management reduced their Q3 2024 earnings estimates for Genelux in a research note issued to investors on Wednesday, August 14th. Brookline Capital Management analyst K. Dolliver now expects that the company will earn ($0.20) per share for the quarter, down from their prior estimate of ($0.12). The consensus estimate for Genelux’s current full-year earnings is ($0.86) per share. Brookline Capital Management also issued estimates for Genelux’s Q4 2024 earnings at ($0.20) EPS and FY2024 earnings at ($0.91) EPS.

A number of other brokerages also recently issued reports on GNLX. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Genelux in a report on Thursday, August 15th. Benchmark lowered their price target on shares of Genelux from $30.00 to $25.00 and set a “speculative buy” rating on the stock in a report on Friday, May 31st.

Genelux Trading Down 2.4 %

Shares of Genelux stock opened at $2.04 on Monday. Genelux has a 12-month low of $1.60 and a 12-month high of $30.44. The company has a market cap of $70.08 million, a price-to-earnings ratio of -2.10 and a beta of -1.57. The company’s 50-day moving average price is $2.15 and its 200-day moving average price is $4.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GNLX. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Genelux in the second quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its position in Genelux by 216.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,956 shares of the company’s stock valued at $41,000 after acquiring an additional 2,021 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Genelux during the second quarter valued at approximately $56,000. Miracle Mile Advisors LLC bought a new position in Genelux during the second quarter valued at approximately $58,000. Finally, New York State Common Retirement Fund grew its position in Genelux by 17.6% during the fourth quarter. New York State Common Retirement Fund now owns 6,461 shares of the company’s stock valued at $91,000 after acquiring an additional 966 shares during the last quarter. 37.33% of the stock is currently owned by institutional investors.

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.