Genelux (NASDAQ:GNLX) Upgraded by Wall Street Zen to “Hold” Rating

Genelux (NASDAQ:GNLX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research firms also recently weighed in on GNLX. HC Wainwright reissued a “buy” rating on shares of Genelux in a report on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a research note on Thursday, January 22nd. Finally, Benchmark reduced their price target on shares of Genelux from $23.00 to $20.00 and set a “speculative buy” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Genelux presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Genelux Trading Down 5.5%

Shares of GNLX opened at $2.40 on Friday. The firm has a market cap of $91.32 million, a PE ratio of -2.79 and a beta of 0.15. The firm has a fifty day simple moving average of $2.68 and a two-hundred day simple moving average of $4.14. Genelux has a 1-year low of $1.99 and a 1-year high of $8.53.

Genelux (NASDAQ:GNLX) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The firm had revenue of $0.01 million during the quarter. As a group, research analysts forecast that Genelux will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Genelux news, Director John Thomas sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $2.90, for a total transaction of $29,000.00. Following the sale, the director directly owned 482,784 shares of the company’s stock, valued at $1,400,073.60. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genelux

Hedge funds have recently made changes to their positions in the business. Private Management Group Inc. bought a new stake in Genelux during the 2nd quarter valued at approximately $33,000. Jefferies Financial Group Inc. bought a new position in Genelux in the 4th quarter worth approximately $48,000. Squarepoint Ops LLC bought a new position in Genelux in the 4th quarter worth approximately $52,000. Raymond James Financial Inc. grew its holdings in Genelux by 22.6% during the 2nd quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock valued at $83,000 after buying an additional 5,333 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Genelux during the second quarter valued at approximately $92,000. Institutional investors own 37.33% of the company’s stock.

Genelux Company Profile

Genelux Corporation (NASDAQ:GNLX) is a clinical-stage biotechnology company focused on the development of oncolytic virus immunotherapies. Built on a proprietary vaccinia virus platform, the company’s programs are designed to selectively infect and destroy cancer cells while stimulating a systemic immune response. Genelux’s lead candidate, pexastimogene devacirepvec (GL-ONC1), is being evaluated in multiple indications, including peritoneal malignancies and head and neck cancers, where it is administered either intraperitoneally or systemically depending on the trial design.

Genelux’s pipeline leverages its experience with the GL-ONC1 construct to explore combination strategies with chemotherapy and immuno-oncology agents.