Genelux (NASDAQ:GNLX) Announces Earnings Results

Genelux (NASDAQ:GNLX) issued its quarterly earnings results on Thursday. The company reported ($0.24) EPS for the quarter, FiscalAI reports. The business had revenue of $0.01 million for the quarter.

Genelux Stock Performance

Genelux stock traded down $0.05 during midday trading on Thursday, reaching $2.54. The stock had a trading volume of 106,638 shares, compared to its average volume of 251,029. The stock’s 50-day simple moving average is $2.69 and its 200 day simple moving average is $4.16. Genelux has a twelve month low of $1.99 and a twelve month high of $8.53. The stock has a market capitalization of $96.65 million, a PE ratio of -2.89 and a beta of 0.15.

Analysts Set New Price Targets

GNLX has been the topic of several research analyst reports. Wall Street Zen lowered Genelux from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. HC Wainwright reissued a “buy” rating on shares of Genelux in a report on Monday, January 5th. Finally, Weiss Ratings reissued 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Insider Buying and Selling

In other news, Director John Thomas sold 10,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $2.90, for a total transaction of $29,000.00. Following the transaction, the director directly owned 482,784 shares of the company’s stock, valued at approximately $1,400,073.60. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.80% of the company’s stock.

Institutional Investors Weigh In On Genelux

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Private Management Group Inc. bought a new position in Genelux in the 2nd quarter worth about $33,000. Jefferies Financial Group Inc. acquired a new stake in shares of Genelux in the fourth quarter worth $48,000. Squarepoint Ops LLC purchased a new stake in shares of Genelux during the fourth quarter worth $52,000. Raymond James Financial Inc. grew its position in Genelux by 22.6% in the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock worth $83,000 after acquiring an additional 5,333 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Genelux in the 2nd quarter valued at approximately $92,000. 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.