Genelux (NASDAQ:GNLX) Releases Earnings Results, Misses Expectations By $0.01 EPS

Genelux (NASDAQ:GNLX) announced its earnings results on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), Zacks reports.

Genelux Stock Down 1.3%

Shares of Genelux stock traded down $0.04 on Thursday, hitting $2.67. 202,153 shares of the company traded hands, compared to its average volume of 223,368. Genelux has a 12-month low of $2.29 and a 12-month high of $8.53. The company has a 50-day moving average price of $2.90 and a 200 day moving average price of $2.78. The company has a market cap of $119.50 million, a PE ratio of -3.15 and a beta of 0.60.

Insider Activity

In other news, Director John W. Smither sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $2.91, for a total transaction of $34,920.00. Following the completion of the sale, the director owned 91,403 shares in the company, valued at approximately $265,982.73. This represents a 11.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Thomas sold 10,000 shares of Genelux stock in a transaction dated Monday, June 1st. The stock was 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. The trade was a 2.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 25,868 shares of company stock worth $76,120. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Genelux

A number of institutional investors and hedge funds have recently modified their holdings of GNLX. XTX Topco Ltd bought a new position in Genelux in the fourth quarter worth $222,000. Millennium Management LLC acquired a new stake in Genelux during the fourth quarter worth $455,000. Balyasny Asset Management L.P. bought a new stake in Genelux in the 4th quarter valued at $94,000. Align Financial LLC acquired a new position in shares of Genelux in the 4th quarter valued at $123,000. Finally, 683 Capital Management LLC bought a new position in shares of Genelux during the 4th quarter worth about $572,000. 37.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Company Profile

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.