Genelux (NASDAQ:GNLX) Now Covered by Analysts at Guggenheim

Guggenheim started coverage on shares of Genelux (NASDAQ:GNLX) in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $8.00 target price on the stock.

GNLX has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Genelux in a research note on Thursday, August 15th. Roth Mkm initiated coverage on shares of Genelux in a research note on Tuesday, August 27th. They set a “buy” rating and a $10.00 target price for the company. Finally, Roth Capital raised Genelux to a “strong-buy” rating in a research report on Tuesday, August 27th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Genelux presently has a consensus rating of “Buy” and an average price target of $18.75.

Genelux Price Performance

GNLX stock opened at $3.22 on Tuesday. The firm has a 50-day moving average of $2.50 and a 200 day moving average of $2.63. The company has a market cap of $111.20 million, a P/E ratio of -3.35 and a beta of -1.54. Genelux has a 1 year low of $1.60 and a 1 year high of $18.01.

Genelux (NASDAQ:GNLX) last released its earnings results on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). On average, equities research analysts expect that Genelux will post -0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Aladar Szalay sold 107,045 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $1.98, for a total transaction of $211,949.10. Following the sale, the insider now owns 925,228 shares in the company, valued at $1,831,951.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 331,062 shares of company stock valued at $736,831. Insiders own 9.30% of the company’s stock.

Hedge Funds Weigh In On Genelux

A number of hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Genelux during the second quarter valued at approximately $39,000. Cubist Systematic Strategies LLC bought a new position in shares of Genelux during the 2nd quarter valued at $56,000. Miracle Mile Advisors LLC bought a new position in shares of Genelux during the 2nd quarter valued at $58,000. SageView Advisory Group LLC bought a new stake in shares of Genelux in the first quarter worth $121,000. Finally, LifeSteps Financial Inc. grew its holdings in shares of Genelux by 50.2% in the second quarter. LifeSteps Financial Inc. now owns 66,536 shares of the company’s stock worth $130,000 after acquiring an additional 22,227 shares during the period. Hedge funds and other institutional investors own 37.33% of the company’s stock.

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.