Genelux (NASDAQ:GNLX) Rating Increased to Strong-Buy at Lucid Cap Mkts

Lucid Cap Mkts upgraded shares of Genelux (NASDAQ:GNLX) to a strong-buy rating in a research report report published on Wednesday,Zacks reports.

GNLX has been the topic of a number of other research reports. Wall Street Zen raised shares of Genelux from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. Benchmark restated a “speculative buy” rating on shares of Genelux in a research report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Genelux currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Stock Performance

NASDAQ:GNLX opened at $2.53 on Wednesday. The stock has a 50 day moving average of $2.71 and a 200-day moving average of $2.76. The firm has a market capitalization of $114.46 million, a PE ratio of -2.94 and a beta of 0.57. Genelux has a 52 week low of $2.29 and a 52 week high of $8.53.

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

Insider Transactions at Genelux

In other Genelux news, Director John W. Smither sold 12,000 shares of Genelux stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $2.91, for a total transaction of $34,920.00. Following the transaction, the director directly owned 91,403 shares in the company, valued at approximately $265,982.73. The trade was a 11.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Zindrick sold 34,463 shares of Genelux stock in a transaction on Monday, August 31st. The shares were sold at an average price of $2.67, for a total value of $92,016.21. Following the transaction, the chief executive officer owned 1,226,427 shares in the company, valued at $3,274,560.09. This represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,822 shares of company stock valued at $164,402 in the last three months. 7.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Genelux

Institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new position in Genelux during the fourth quarter worth $48,000. GSA Capital Partners LLP acquired a new stake in shares of Genelux in the second quarter worth about $35,000. Waystone Advisors LLC acquired a new stake in shares of Genelux in the fourth quarter worth about $145,000. Strive Financial Group LLC boosted its stake in shares of Genelux by 728.7% during the 2nd quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock worth $125,000 after acquiring an additional 36,437 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in shares of Genelux by 458.9% during the 1st quarter. SteelPeak Wealth LLC now owns 60,895 shares of the company’s stock worth $147,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors and hedge funds 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.