Benchmark Lowers Genelux (NASDAQ:GNLX) Price Target to $20.00

Genelux (NASDAQ:GNLX) had its price target cut by equities researchers at Benchmark from $23.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “speculative buy” rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. HC Wainwright restated a “buy” rating on shares of Genelux in a research report on Monday, January 5th. Wall Street Zen lowered shares of Genelux from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Genelux Price Performance

Genelux stock opened at $2.40 on Friday. The stock has a market capitalization of $91.32 million, a PE ratio of -2.79 and a beta of 0.15. Genelux has a 12 month low of $1.99 and a 12 month high of $8.53. The business has a 50 day simple moving average of $2.68 and a 200-day simple moving average of $4.15.

Genelux (NASDAQ:GNLX) last announced its earnings results on Thursday, March 19th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The firm had revenue of $0.01 million during the quarter. On average, equities research analysts anticipate 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 stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $2.90, for a total value of $29,000.00. Following the completion of the sale, the director owned 482,784 shares in the company, valued at approximately $1,400,073.60. This represents a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.80% of the company’s stock.

Institutional Investors Weigh In On Genelux

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Genelux in the fourth quarter valued at approximately $222,000. Millennium Management LLC acquired a new position in Genelux during the fourth quarter worth $455,000. Balyasny Asset Management L.P. acquired a new position in Genelux during the fourth quarter worth $94,000. Align Financial LLC purchased a new stake in Genelux in the 4th quarter valued at $123,000. Finally, 683 Capital Management LLC purchased a new stake in Genelux in the 4th quarter valued at $572,000. 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.