Insider Selling: Genelux (NASDAQ:GNLX) Director Sells $29,800.00 in Stock

Genelux Corporation (NASDAQ:GNLX) Director John Thomas sold 10,000 shares of Genelux stock in a transaction on Monday, June 1st. The shares were sold at an average price of $2.98, for a total value of $29,800.00. Following the completion of the transaction, the director owned 472,784 shares in the company, valued at $1,408,896.32. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Genelux Price Performance

Genelux stock opened at $3.08 on Friday. The stock has a market capitalization of $138.11 million, a price-to-earnings ratio of -3.62 and a beta of 0.56. Genelux Corporation has a 1-year low of $2.29 and a 1-year high of $8.53. The business has a fifty day moving average price of $2.76 and a 200-day moving average price of $3.20.

Genelux (NASDAQ:GNLX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). On average, equities research analysts anticipate that Genelux Corporation will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of Genelux

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNLX. Jefferies Financial Group Inc. acquired a new stake in Genelux during the 4th quarter worth about $48,000. Squarepoint Ops LLC acquired a new stake in Genelux during the 4th quarter worth about $52,000. Raymond James Financial Inc. lifted its position in Genelux by 22.6% during the 2nd quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock worth $83,000 after acquiring an additional 5,333 shares during the period. Marshall Wace LLP acquired a new stake in Genelux during the 2nd quarter worth about $92,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Genelux during the 4th quarter worth about $94,000. Institutional investors and hedge funds own 37.33% of the company’s stock.

Wall Street Analysts Forecast Growth

GNLX has been the subject of a number of recent analyst reports. Wall Street Zen cut Genelux from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a research report on Tuesday, April 21st. Finally, Benchmark lowered their price objective on Genelux from $23.00 to $20.00 and set a “speculative buy” rating for the company in a research report on Friday, March 20th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Genelux currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

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.