Genelux (NASDAQ:GNLX) Trading Down 5.1% – Time to Sell?

Genelux Corporation (NASDAQ:GNLX)’s share price dropped 5.1% during mid-day trading on Wednesday . The company traded as low as $2.46 and last traded at $2.58. Approximately 297,995 shares changed hands during trading, a decline of 17% from the average daily volume of 360,006 shares. The stock had previously closed at $2.72.

Wall Street Analyst Weigh In

A number of research firms have commented on GNLX. Wall Street Zen cut shares of Genelux from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a research note on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating on shares of Genelux in a research report on Monday, January 5th. Lake Street Capital started coverage on Genelux in a research note on Tuesday, October 21st. They set a “buy” rating and a $16.00 price target on the stock. Finally, Maxim Group set a $20.00 price objective on Genelux in a research note on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Genelux Stock Down 5.1%

The firm has a 50 day moving average price of $3.73 and a 200 day moving average price of $4.33. The stock has a market capitalization of $98.17 million, a PE ratio of -2.93 and a beta of 0.20.

Genelux (NASDAQ:GNLX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.02. On average, equities analysts forecast that Genelux Corporation will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Genelux

In other news, Director John Thomas sold 10,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $5.00, for a total value of $50,000.00. Following the completion of the sale, the director owned 492,784 shares in the company, valued at $2,463,920. This represents a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 15,990 shares of company stock worth $82,054. 8.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flputnam Investment Management Co. grew its position in Genelux by 708.1% in the 3rd quarter. Flputnam Investment Management Co. now owns 300,290 shares of the company’s stock worth $1,261,000 after purchasing an additional 263,131 shares in the last quarter. MAI Capital Management boosted its stake in shares of Genelux by 66,161.3% in the 2nd quarter. MAI Capital Management now owns 236,553 shares of the company’s stock worth $679,000 after buying an additional 236,196 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Genelux in the second quarter valued at approximately $656,000. Osaic Holdings Inc. increased its position in shares of Genelux by 1,911.4% during the second quarter. Osaic Holdings Inc. now owns 105,016 shares of the company’s stock valued at $301,000 after acquiring an additional 99,795 shares during the last quarter. Finally, Woodward Diversified Capital LLC increased its position in shares of Genelux by 4.8% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,932,711 shares of the company’s stock valued at $8,427,000 after acquiring an additional 88,612 shares during the last quarter. 37.33% of the stock is currently owned by hedge funds and other institutional investors.

About Genelux

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.