Genelux Co. (NASDAQ:GNLX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Genelux Co. (NASDAQ:GNLX) have been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.75.

GNLX has been the subject of a number of analyst reports. Roth Capital upgraded shares of Genelux to a “strong-buy” rating in a research note on Tuesday, August 27th. Guggenheim started coverage on shares of Genelux in a research note on Tuesday, October 29th. They issued a “buy” rating and a $8.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Genelux in a research report on Thursday, August 15th. Finally, Roth Mkm began coverage on Genelux in a research report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 price target for the company.

Genelux Trading Down 0.3 %

Shares of NASDAQ:GNLX opened at $3.21 on Tuesday. The business has a fifty day simple moving average of $2.52 and a 200 day simple moving average of $2.62. Genelux has a 1 year low of $1.60 and a 1 year high of $18.01.

Genelux (NASDAQ:GNLX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Analysts expect that Genelux will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Aladar Szalay sold 107,045 shares of Genelux stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $1.98, for a total value of $211,949.10. Following the transaction, the insider now owns 925,228 shares in the company, valued at $1,831,951.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 331,062 shares of company stock valued at $736,831. Company insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Highbridge Capital Management LLC acquired a new stake in shares of Genelux in the second quarter worth $1,231,000. Armistice Capital LLC acquired a new position in Genelux during the 2nd quarter valued at $1,755,000. Affinity Asset Advisors LLC bought a new stake in Genelux in the 2nd quarter valued at $195,000. Cubist Systematic Strategies LLC acquired a new stake in Genelux in the 2nd quarter worth $56,000. Finally, AMG National Trust Bank increased its holdings in shares of Genelux by 49.7% during the 2nd quarter. AMG National Trust Bank now owns 75,351 shares of the company’s stock worth $147,000 after purchasing an additional 25,000 shares during the period. 37.33% of the stock is currently owned by institutional investors and hedge funds.

About Genelux

Genelux Corporation, a clinical-stage biopharmaceutical company, focuses on developing next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Its lead product candidate is Olvi-Vec, a proprietary modified strain of the vaccinia virus for the treatment of ovarian cancer and non-small cell lung cancer.