Genelux (NASDAQ:GNLX) Rating Lowered to “Strong Sell” at Wall Street Zen

Genelux (NASDAQ:GNLX) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Monday, Wall Street Zen reports.

GNLX has been the subject of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th. Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a research note on Wednesday, September 16th. Finally, Benchmark reaffirmed a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Price Performance

GNLX opened at $2.52 on Monday. The company has a market capitalization of $114.00 million, a price-to-earnings ratio of -2.93 and a beta of 0.59. Genelux has a 1-year low of $2.29 and a 1-year high of $8.53. The business has a 50 day moving average price of $2.58 and a two-hundred day moving average price of $2.75.

Genelux (NASDAQ:GNLX) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Equities analysts expect that Genelux will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Yong Yu sold 9,683 shares of the firm’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 transaction of $26,628.25. Following the completion of the sale, the insider directly owned 258,688 shares in the company, valued at approximately $711,392. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Zindrick sold 34,463 shares of Genelux stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $2.67, for a total transaction of $92,016.21. Following the completion of the transaction, the chief executive officer owned 1,226,427 shares in the company, valued at approximately $3,274,560.09. This trade represents a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,822 shares of company stock valued at $129,482 over the last 90 days. 7.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genelux

Several large investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in shares of Genelux during the second quarter valued at $35,000. Strive Financial Group LLC increased its stake in Genelux by 728.7% in the 2nd quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock worth $125,000 after purchasing an additional 36,437 shares in the last quarter. SteelPeak Wealth LLC increased its stake in Genelux by 458.9% in the 1st quarter. SteelPeak Wealth LLC now owns 60,895 shares of the company’s stock worth $147,000 after purchasing an additional 50,000 shares in the last quarter. AMG National Trust Bank acquired a new stake in Genelux during the 2nd quarter worth about $227,000. Finally, Citadel Advisors LLC acquired a new stake in Genelux during the 2nd quarter worth about $257,000. 37.33% of the stock is owned by institutional investors.

Genelux Company Profile

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.