Genelux (NASDAQ:GNLX) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Genelux (NASDAQ:GNLX) from a sell rating to a strong sell rating in a research report report published on Monday morning,Wall Street Zen reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Genelux in a research report on Friday, July 17th. Lucid Cap Mkts upgraded Genelux to a “strong-buy” rating in a research note on Wednesday, September 16th. Finally, Benchmark reaffirmed a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

Genelux Stock Performance

Shares of NASDAQ GNLX opened at $2.55 on Monday. Genelux has a 52 week low of $2.29 and a 52 week high of $8.53. The stock has a market capitalization of $115.37 million, a P/E ratio of -2.97 and a beta of 0.59. The stock’s fifty day moving average is $2.59 and its 200 day moving average is $2.75.

Genelux (NASDAQ:GNLX) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Equities research analysts forecast that Genelux will post -0.81 earnings per share for the current year.

Insider Transactions at Genelux

In other news, insider Yong Yu sold 9,683 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $2.75, for a total value of $26,628.25. Following the completion of the transaction, the insider owned 258,688 shares of the company’s stock, valued at approximately $711,392. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Zindrick sold 34,463 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $2.67, for a total transaction of $92,016.21. Following the completion of the transaction, the chief executive officer directly owned 1,226,427 shares of the company’s stock, valued at $3,274,560.09. This trade represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 47,822 shares of company stock worth $129,482. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Genelux

A number of institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in shares of Genelux in the 2nd quarter valued at $35,000. Strive Financial Group LLC grew its holdings in shares of Genelux by 728.7% during the second quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock worth $125,000 after purchasing an additional 36,437 shares during the last quarter. SteelPeak Wealth LLC increased its stake in shares of Genelux by 458.9% in the first quarter. SteelPeak Wealth LLC now owns 60,895 shares of the company’s stock valued at $147,000 after buying an additional 50,000 shares during the period. AMG National Trust Bank acquired a new stake in Genelux during the 2nd quarter worth approximately $227,000. Finally, Citadel Advisors LLC bought a new stake in Genelux during the 2nd quarter worth approximately $257,000. 37.33% of the stock is currently owned by institutional investors and hedge funds.

Genelux Company Profile

Genelux Corporation is a clinical-stage biotechnology company focused on developing novel cancer treatments based on oncolytic virus immunotherapies. The company’s platform is designed to use genetically modified viruses to selectively infect and destroy tumor cells while stimulating the patient’s immune system to recognize and attack cancer.

Genelux’s lead product candidate is Olvi-Vec (olvimulogene nanivacirepvec), a proprietary modified vaccinia virus being studied in combination with other therapies for advanced solid tumors.