Genelux (NASDAQ:GNLX) Stock Rating Upgraded by Lucid Cap Mkts

Genelux (NASDAQ:GNLX) was upgraded by investment analysts at Lucid Cap Mkts to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

Several other equities research analysts have also issued reports on GNLX. Benchmark reiterated a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. Wall Street Zen upgraded Genelux from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Genelux presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Stock Performance

NASDAQ GNLX opened at $2.53 on Wednesday. Genelux has a 1-year low of $2.29 and a 1-year high of $8.53. The firm’s fifty day simple moving average is $2.71 and its 200-day simple moving average is $2.76. The company has a market capitalization of $114.46 million, a PE ratio of -2.94 and a beta of 0.57.

Genelux (NASDAQ:GNLX) last released its quarterly earnings data 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). As a group, analysts predict that Genelux will post -0.81 EPS for the current year.

Insiders Place Their Bets

In other news, Director John W. Smither sold 12,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $2.91, for a total transaction of $34,920.00. Following the transaction, the director owned 91,403 shares of the company’s stock, valued at approximately $265,982.73. This represents a 11.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $26,628.25. Following the completion of the transaction, the insider directly owned 258,688 shares in the company, valued at $711,392. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 59,822 shares of company stock valued at $164,402 over the last quarter. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Genelux

A number of large investors have recently added to or reduced their stakes in GNLX. Jefferies Financial Group Inc. bought a new position in shares of Genelux in the fourth quarter valued at approximately $48,000. GSA Capital Partners LLP bought a new stake in shares of Genelux during the 2nd quarter worth $35,000. Waystone Advisors LLC bought a new stake in shares of Genelux during the 4th quarter worth $145,000. Strive Financial Group LLC grew 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 valued at $125,000 after buying an additional 36,437 shares during the last quarter. Finally, SteelPeak Wealth LLC grew its stake in Genelux by 458.9% in the 1st quarter. SteelPeak Wealth LLC now owns 60,895 shares of the company’s stock valued at $147,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 37.33% of the company’s stock.

Genelux Company Profile

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.