Genelux (NASDAQ:GNLX) Stock Rating Raised to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Genelux (NASDAQ:GNLX) from a strong sell rating to a sell rating in a report published on Sunday,Wall Street Zen reports.

A number of other brokerages also recently issued reports on GNLX. Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a report on Wednesday, September 16th. Benchmark reiterated a “speculative buy” rating on shares of Genelux in a research note on Tuesday, August 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Genelux Stock Performance

GNLX stock opened at $2.56 on Friday. The firm has a market capitalization of $115.81 million, a price-to-earnings ratio of -2.98 and a beta of 0.59. The firm has a 50 day moving average price of $2.63 and a 200-day moving average price of $2.75. Genelux has a 52-week low of $2.29 and a 52-week high of $8.53.

Genelux (NASDAQ:GNLX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). As a group, sell-side analysts forecast that Genelux will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 transaction 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 trade represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Yong Yu sold 9,683 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $2.75, for a total transaction of $26,628.25. Following the sale, the insider directly owned 258,688 shares of the company’s stock, valued at approximately $711,392. The trade was a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 47,822 shares of company stock worth $129,482. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genelux

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Genelux during the 2nd quarter valued at about $1,323,000. Flputnam Investment Management Co. purchased a new stake in Genelux in the 2nd quarter worth $697,000. Bank of America Corp DE purchased a new stake in Genelux in the 2nd quarter worth $990,000. Global Retirement Partners LLC bought a new stake in Genelux during the second quarter valued at about $686,000. Finally, Citadel Advisors LLC purchased a new position in shares of Genelux in the second quarter valued at about $257,000. 37.33% of the stock is owned by institutional investors.

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.