Key Points
- Genelux director John Smither sold 12,000 shares on July 1 at an average price of $2.91, reducing his ownership by 11.61% and leaving him with 91,403 shares.
- The stock rose 3.1% and opened at $2.99, with a market cap of $134.07 million and trading near its 50-day and 200-day moving averages.
- Wall Street sentiment is mixed but cautious: analysts currently rate Genelux a Moderate Buy on average, with an $18.00 target price, while the company recently reported a smaller-than-expected quarterly loss.
Genelux Corporation (NASDAQ:GNLX - Get Free Report) Director John Smither sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $2.91, for a total value of $34,920.00. Following the completion of the transaction, the director owned 91,403 shares in the company, valued at $265,982.73. This represents a 11.61% 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 this hyperlink.
Genelux Stock Up 3.1%
Shares of Genelux stock opened at $2.99 on Friday. The business has a fifty day simple moving average of $2.89 and a 200 day simple moving average of $2.93. The stock has a market cap of $134.07 million, a PE ratio of -3.52 and a beta of 0.58. Genelux Corporation has a 12 month low of $2.29 and a 12 month high of $8.53.
Genelux (NASDAQ:GNLX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Analysts expect that Genelux Corporation will post -0.8 EPS for the current fiscal year.
Institutional Trading of Genelux
Several hedge funds have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP acquired a new position in Genelux in the fourth quarter valued at about $165,000. Align Financial LLC bought a new stake in shares of Genelux in the fourth quarter worth about $123,000. Balyasny Asset Management L.P. acquired a new stake in shares of Genelux during the fourth quarter worth about $94,000. Marshall Wace LLP acquired a new stake in shares of Genelux during the second quarter worth about $92,000. Finally, Raymond James Financial Inc. lifted its holdings in shares of Genelux by 22.6% during the 2nd quarter. Raymond James Financial Inc. now owns 28,933 shares of the company's stock valued at $83,000 after purchasing an additional 5,333 shares in the last quarter. Institutional investors and hedge funds own 37.33% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on GNLX. Wall Street Zen downgraded shares of Genelux from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Benchmark decreased their price objective on shares of Genelux from $23.00 to $20.00 and set a "speculative buy" rating for the company in a report on Friday, March 20th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Genelux in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.00.
Read Our Latest Stock Analysis on Genelux
Genelux Company Profile
(
Get Free Report)
Genelux Corporation (NASDAQ:GNLX) is a clinical-stage biotechnology company focused on the development of oncolytic virus immunotherapies. Built on a proprietary vaccinia virus platform, the company's programs are designed to selectively infect and destroy cancer cells while stimulating a systemic immune response. Genelux's lead candidate, pexastimogene devacirepvec (GL-ONC1), is being evaluated in multiple indications, including peritoneal malignancies and head and neck cancers, where it is administered either intraperitoneally or systemically depending on the trial design.
Genelux's pipeline leverages its experience with the GL-ONC1 construct to explore combination strategies with chemotherapy and immuno-oncology agents.
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