Wall Street Zen Upgrades Genelux (NASDAQ:GNLX) to Sell

Genelux (NASDAQ:GNLX) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on GNLX. Benchmark reaffirmed a “speculative buy” rating on shares of Genelux in a research note on Tuesday, August 18th. Lucid Cap Mkts raised shares of Genelux to a “strong-buy” rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Genelux Trading Down 17.2%

Shares of GNLX stock opened at $2.07 on Tuesday. Genelux has a 1-year low of $2.02 and a 1-year high of $8.53. The company has a market capitalization of $93.66 million, a price-to-earnings ratio of -2.41 and a beta of 0.59. The stock’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $2.75.

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

Insider Buying and Selling at Genelux

In related news, CEO Thomas Zindrick sold 34,463 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $2.67, for a total transaction of $92,016.21. Following the completion of the sale, the chief executive officer directly owned 1,226,427 shares in the company, valued at approximately $3,274,560.09. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yong Yu sold 9,683 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $2.75, for a total value of $26,628.25. Following the sale, the insider owned 258,688 shares of the company’s stock, valued at approximately $711,392. This represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 47,822 shares of company stock worth $129,482. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Genelux in the 2nd quarter worth about $1,323,000. Bank of America Corp DE purchased a new stake in shares of Genelux during the 2nd quarter worth about $990,000. Flputnam Investment Management Co. purchased a new stake in shares of Genelux during the 2nd quarter worth about $697,000. Global Retirement Partners LLC acquired a new stake in shares of Genelux during the 2nd quarter valued at about $686,000. Finally, Woodward Diversified Capital LLC lifted its holdings in shares of Genelux by 5.2% during the 3rd quarter. Woodward Diversified Capital LLC now owns 2,378,755 shares of the company’s stock valued at $6,018,000 after buying an additional 116,647 shares during the last quarter. Hedge funds and other institutional investors own 37.33% of the company’s stock.

About Genelux

Genelux Corporation is a clinical-stage biotechnology company focused on developing novel cancer treatments based on oncolytic virus immunotherapies. The company’s platform is designed to use genetically modified viruses to selectively infect and destroy tumor cells while stimulating the patient’s immune system to recognize and attack cancer.

Genelux’s lead product candidate is Olvi-Vec (olvimulogene nanivacirepvec), a proprietary modified vaccinia virus being studied in combination with other therapies for advanced solid tumors.