Genelux (NASDAQ:GNLX) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Genelux (NASDAQ:GNLX) issued its quarterly earnings data on Thursday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02), FiscalAI reports. The company had revenue of $0.01 million for the quarter.

Genelux Trading Down 5.5%

Shares of GNLX stock opened at $2.40 on Friday. The firm’s fifty day moving average price is $2.68 and its two-hundred day moving average price is $4.14. Genelux has a 1 year low of $1.99 and a 1 year high of $8.53. The firm has a market capitalization of $91.32 million, a P/E ratio of -2.79 and a beta of 0.15.

Analyst Ratings Changes

A number of brokerages recently weighed in on GNLX. Wall Street Zen upgraded Genelux from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a report on Thursday, January 22nd. Benchmark reduced their price objective on Genelux from $23.00 to $20.00 and set a “speculative buy” rating for the company in a research report on Friday. Finally, HC Wainwright reissued a “buy” rating on shares of Genelux in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Insider Activity at Genelux

In other news, Director John Thomas sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $2.90, for a total value of $29,000.00. Following the completion of the transaction, the director owned 482,784 shares in the company, valued at $1,400,073.60. This trade represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Genelux

Several institutional investors and hedge funds have recently bought and sold shares of GNLX. Jefferies Financial Group Inc. bought a new position in Genelux in the fourth quarter valued at approximately $48,000. Private Management Group Inc. bought a new stake in shares of Genelux during the 2nd quarter worth approximately $33,000. Squarepoint Ops LLC acquired a new stake in shares of Genelux in the 4th quarter valued at approximately $52,000. Balyasny Asset Management L.P. acquired a new stake in shares of Genelux in the 4th quarter valued at approximately $94,000. Finally, 5T Wealth LLC grew its stake in shares of Genelux by 33.9% in the third quarter. 5T Wealth LLC now owns 24,101 shares of the company’s stock valued at $101,000 after buying an additional 6,100 shares in the last quarter. Institutional investors 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.