Insider Selling: Genelux Co. (NASDAQ:GNLX) Major Shareholder Sells 33,061 Shares of Stock

Genelux Co. (NASDAQ:GNLX) major shareholder Aladar Szalay sold 33,061 shares of Genelux stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $3.30, for a total transaction of $109,101.30. Following the transaction, the insider now directly owns 1,195,731 shares of the company’s stock, valued at $3,945,912.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Aladar Szalay also recently made the following trade(s):

• On Monday, April 29th, Aladar Szalay sold 6,403 shares of Genelux stock. The stock was sold at an average price of $3.25, for a total transaction of $20,809.75.
• On Wednesday, April 24th, Aladar Szalay sold 8,064 shares of Genelux stock. The shares were sold at an average price of $3.50, for a total transaction of $28,224.00.
• On Monday, April 22nd, Aladar Szalay sold 14,331 shares of Genelux stock. The stock was sold at an average price of $3.53, for a total value of $50,588.43.
• On Tuesday, April 16th, Aladar Szalay sold 48,683 shares of Genelux stock. The shares were sold at an average price of $3.53, for a total value of $171,850.99.

Genelux Stock Up 5.5 %

GNLX stock opened at $3.28 on Thursday. The stock’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $10.31. Genelux Co. has a 12-month low of $3.06 and a 12-month high of $40.98.

Genelux (NASDAQ:GNLX) last announced its quarterly earnings results on Friday, March 29th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). As a group, equities research analysts anticipate that Genelux Co. will post -0.81 earnings per share for the current year.

Institutional Trading of Genelux

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Genelux during the third quarter valued at approximately $162,000. Bank of New York Mellon Corp raised its stake in Genelux by 476.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 53,938 shares of the company’s stock valued at $1,321,000 after buying an additional 44,584 shares during the last quarter. LifeSteps Financial Inc. lifted its holdings in shares of Genelux by 145.3% during the 3rd quarter. LifeSteps Financial Inc. now owns 32,817 shares of the company’s stock valued at $804,000 after buying an additional 19,438 shares during the period. Whittier Trust Co. purchased a new position in shares of Genelux in the 3rd quarter worth $175,000. Finally, Aspen Investment Management Inc bought a new stake in shares of Genelux in the third quarter worth $290,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GNLX shares. HC Wainwright reduced their price target on Genelux from $35.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Benchmark reissued a “speculative buy” rating and set a $30.00 price objective on shares of Genelux in a research report on Wednesday, April 3rd.

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.