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

Genelux (NASDAQ:GNLX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Several other equities analysts have also weighed in on GNLX. Benchmark cut their price target on Genelux from $25.00 to $23.00 and set a “speculative buy” rating for the company in a research note on Thursday, May 8th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Genelux in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Genelux Stock Performance

NASDAQ GNLX opened at $2.56 on Friday. The stock has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $3.06. The firm has a market capitalization of $96.60 million, a P/E ratio of -2.69 and a beta of -0.49. Genelux has a fifty-two week low of $1.60 and a fifty-two week high of $5.89.

Genelux (NASDAQ:GNLX) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. As a group, analysts forecast that Genelux will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GNLX. Alyeska Investment Group L.P. acquired a new position in shares of Genelux in the 1st quarter worth approximately $770,000. Heights Capital Management Inc. acquired a new position in shares of Genelux in the 1st quarter worth approximately $644,000. Woodward Diversified Capital LLC raised its position in Genelux by 15.2% in the first quarter. Woodward Diversified Capital LLC now owns 1,461,113 shares of the company’s stock valued at $3,945,000 after purchasing an additional 192,808 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Genelux in the first quarter valued at approximately $239,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Genelux in the first quarter valued at approximately $215,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Genelux Company Profile

Genelux Corporation, a clinical-stage biopharmaceutical company, focuses on developing next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Its lead product candidate is Olvi-Vec, a proprietary modified strain of the vaccinia virus for the treatment of ovarian cancer and non-small cell lung cancer.