Genelux (NASDAQ:GNLX) Stock Moved Down to “Strong Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Genelux (NASDAQ:GNLX) from a sell rating to a strong sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued reports about the stock. Benchmark reissued a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a research report on Friday, July 17th. Finally, Lucid Cap Mkts raised shares of Genelux to a “strong-buy” rating in a 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Genelux Trading Up 2.1%

Shares of Genelux stock opened at $2.48 on Friday. The company’s 50-day moving average price is $2.68 and its 200-day moving average price is $2.76. Genelux has a 12-month low of $2.29 and a 12-month high of $8.53. The company has a market cap of $112.20 million, a price-to-earnings ratio of -2.88 and a beta of 0.57.

Genelux (NASDAQ:GNLX) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). On average, sell-side analysts predict that Genelux will post -0.81 earnings per share for the current year.

Insider Transactions at Genelux

In related news, Director John W. Smither sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2.91, for a total value of $34,920.00. Following the sale, the director directly owned 91,403 shares of the company’s stock, valued at $265,982.73. This trade represents a 11.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Zindrick sold 34,463 shares of Genelux 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 sale, the chief executive officer owned 1,226,427 shares of the company’s stock, valued at approximately $3,274,560.09. The trade was a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 59,822 shares of company stock valued at $164,402. 7.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Genelux

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

About Genelux

Genelux Corporation is a clinical-stage biotechnology company focused on developing and commercializing therapies for cancer. The company’s research centers on oncolytic immunotherapies, which are designed to selectively infect and destroy tumor cells while stimulating the body’s immune response against cancer.

Genelux’s lead investigational product is olvimulogene nanivacirepvec, also known as Olvi-Vec or GL-ONC1. Olvi-Vec is a modified vaccinia virus being evaluated in clinical studies for several solid tumors, including ovarian cancer and other advanced or recurrent cancers.