Genelux (NASDAQ:GNLX) Price Target Cut to $20.00 by Analysts at Benchmark

Genelux (NASDAQ:GNLX) had its target price lowered by research analysts at Benchmark from $23.00 to $20.00 in a report released on Friday,Benzinga reports. The firm currently has a “speculative buy” rating on the stock.

A number of other analysts also recently weighed in on GNLX. HC Wainwright restated a “buy” rating on shares of Genelux in a report on Monday, January 5th. Wall Street Zen downgraded Genelux from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Genelux Stock Down 4.7%

NASDAQ GNLX traded down $0.12 on Friday, reaching $2.42. The company had a trading volume of 94,646 shares, compared to its average volume of 248,116. The stock has a market capitalization of $92.08 million, a PE ratio of -2.76 and a beta of 0.15. Genelux has a 12 month low of $1.99 and a 12 month high of $8.53. The firm’s 50 day moving average price is $2.69 and its 200 day moving average price is $4.15.

Genelux (NASDAQ:GNLX) last posted its earnings results on Thursday, March 19th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The company had revenue of $0.01 million during the quarter. On average, research analysts expect that Genelux will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other news, Director John Thomas sold 10,000 shares of Genelux stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $2.90, for a total transaction of $29,000.00. Following the completion of the sale, the director directly owned 482,784 shares in the company, valued at approximately $1,400,073.60. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genelux

A number of institutional investors have recently modified their holdings of the stock. Flputnam Investment Management Co. increased its holdings in shares of Genelux by 708.1% in the 3rd quarter. Flputnam Investment Management Co. now owns 300,290 shares of the company’s stock valued at $1,261,000 after acquiring an additional 263,131 shares during the period. Global Retirement Partners LLC bought a new stake in Genelux during the second quarter valued at about $656,000. MAI Capital Management boosted its position in Genelux by 66,161.3% during the second quarter. MAI Capital Management now owns 236,553 shares of the company’s stock valued at $679,000 after purchasing an additional 236,196 shares in the last quarter. Private Management Group Inc. purchased a new position in Genelux in the second quarter valued at about $33,000. Finally, Creative Planning grew its stake in Genelux by 4.7% in the third quarter. Creative Planning now owns 46,108 shares of the company’s stock valued at $194,000 after purchasing an additional 2,084 shares during the last quarter. 37.33% of the stock is owned by hedge funds and other institutional investors.

Genelux Company Profile

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.