Genelux (NASDAQ:GNLX) Stock Rating Upgraded by Wall Street Zen

Genelux (NASDAQ:GNLX) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday, Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Genelux in a research note on Friday, July 17th. Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a research report on Wednesday, September 16th. Finally, Benchmark reaffirmed a “speculative buy” rating on shares of Genelux in a report on Tuesday, August 18th. One investment 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 stock. According to data from MarketBeat, Genelux currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Stock Up 1.6%

NASDAQ GNLX opened at $2.60 on Friday. Genelux has a twelve month low of $2.29 and a twelve month high of $8.53. The business’s fifty day moving average is $2.63 and its 200 day moving average is $2.75. The company has a market cap of $117.62 million, a price-to-earnings ratio of -3.02 and a beta of 0.59.

Genelux (NASDAQ:GNLX) last announced 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). On average, research analysts anticipate that Genelux will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Thomas Zindrick sold 34,463 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $2.67, for a total value of $92,016.21. Following the sale, the chief executive officer directly owned 1,226,427 shares of the company’s stock, valued at approximately $3,274,560.09. This represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the insider owned 258,688 shares of the company’s stock, valued at approximately $711,392. This trade represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 47,822 shares of company stock worth $129,482 in the last 90 days. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Genelux

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Genelux in the 2nd quarter valued at about $1,323,000. Bank of America Corp DE bought a new stake in Genelux in the 2nd quarter valued at about $990,000. Flputnam Investment Management Co. acquired a new position in Genelux during the 2nd quarter worth approximately $697,000. Global Retirement Partners LLC acquired a new position in Genelux during the 2nd quarter worth approximately $686,000. Finally, Citadel Advisors LLC bought a new position in Genelux in the second quarter worth approximately $257,000. Institutional investors own 37.33% of the company’s stock.

About Genelux

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.