Genelux (NASDAQ:GNLX) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Genelux (NASDAQ:GNLX) released its quarterly earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02, Zacks reports.

Genelux Trading Down 3.3%

Shares of Genelux stock traded down $0.27 during trading on Wednesday, hitting $7.84. 337,310 shares of the stock traded hands, compared to its average volume of 182,967. The firm has a market cap of $296.14 million, a P/E ratio of -9.12 and a beta of -0.10. Genelux has a 52-week low of $1.99 and a 52-week high of $8.54. The stock’s fifty day simple moving average is $5.01 and its 200 day simple moving average is $3.71.

Institutional Investors Weigh In On Genelux

Several institutional investors have recently added to or reduced their stakes in GNLX. Osaic Holdings Inc. boosted its holdings in Genelux by 1,911.4% in the second quarter. Osaic Holdings Inc. now owns 105,016 shares of the company’s stock worth $301,000 after acquiring an additional 99,795 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Genelux in the first quarter worth about $239,000. Jane Street Group LLC acquired a new stake in Genelux in the first quarter worth about $190,000. Marshall Wace LLP acquired a new stake in Genelux in the second quarter worth about $92,000. Finally, Geode Capital Management LLC boosted its holdings in Genelux by 1.8% in the second quarter. Geode Capital Management LLC now owns 318,825 shares of the company’s stock worth $915,000 after acquiring an additional 5,596 shares in the last quarter. Institutional investors and hedge funds own 37.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GNLX. Lake Street Capital began coverage on Genelux in a report on Tuesday, October 21st. They set a “buy” rating and a $16.00 price target on the stock. Loop Capital set a $16.00 price target on Genelux in a report on Tuesday, October 21st. HC Wainwright restated a “buy” rating on shares of Genelux in a report on Wednesday, July 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Genelux from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

About Genelux

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.