Genelux Corporation (NASDAQ:GNLX) Stock Has Average Target Price of $18.00 According to Analysts

Genelux Corporation (NASDAQ:GNLX) has earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

A number of equities research analysts have recently commented on GNLX shares. Benchmark reaffirmed a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research note on Friday, July 17th. Wall Street Zen lowered Genelux from a “sell” rating to a “strong sell” rating in a report on Monday. Finally, Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a report on Wednesday, September 16th.

Insider Activity at Genelux

In related news, insider Yong Yu sold 9,683 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $2.75, for a total transaction of $26,628.25. Following the completion of the sale, the insider directly owned 258,688 shares of the company’s stock, valued at $711,392. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Zindrick sold 34,463 shares of Genelux stock in a transaction on Monday, August 31st. The shares were 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 owned 1,226,427 shares in the company, valued at approximately $3,274,560.09. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 47,822 shares of company stock valued at $129,482. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genelux

A number of large investors have recently bought and sold shares of GNLX. GSA Capital Partners LLP acquired a new stake in shares of Genelux in the 2nd quarter worth $35,000. Strive Financial Group LLC boosted its holdings in shares of Genelux by 728.7% in the second quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock valued at $125,000 after acquiring an additional 36,437 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings 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 acquiring an additional 50,000 shares in the last quarter. AMG National Trust Bank purchased a new stake in shares of Genelux in the second quarter valued at about $227,000. Finally, Citadel Advisors LLC acquired a new position in shares of Genelux during the second quarter worth about $257,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Genelux Price Performance

GNLX stock opened at $2.52 on Wednesday. The company has a market cap of $114.00 million, a price-to-earnings ratio of -2.93 and a beta of 0.59. The company has a fifty day moving average price of $2.58 and a 200 day moving average price of $2.75. Genelux has a 12 month low of $2.29 and a 12 month high of $8.53.

Genelux (NASDAQ:GNLX) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). As a group, analysts anticipate that Genelux will post -0.81 earnings per share for the current year.

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.