Insider Selling: Genelux Co. (NASDAQ:GNLX) Major Shareholder Sells 8,064 Shares of Stock

Genelux Co. (NASDAQ:GNLX) major shareholder Aladar Szalay sold 8,064 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $3.50, for a total transaction of $28,224.00. Following the completion of the sale, the insider now directly owns 1,255,730 shares of the company’s stock, valued at $4,395,055. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Aladar Szalay also recently made the following trade(s):

• On Monday, April 22nd, Aladar Szalay sold 14,331 shares of Genelux stock. The stock was sold at an average price of $3.53, for a total value of $50,588.43.
• On Tuesday, April 16th, Aladar Szalay sold 48,683 shares of Genelux stock. The stock was sold at an average price of $3.53, for a total value of $171,850.99.

Genelux Stock Performance

NASDAQ GNLX opened at $3.40 on Friday. Genelux Co. has a 1 year low of $3.07 and a 1 year high of $40.98. The stock’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $10.76.

Genelux (NASDAQ:GNLX) last issued its quarterly earnings results on Friday, March 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.04). As a group, equities analysts expect that Genelux Co. will post -0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GNLX has been the subject of a number of research analyst reports. HC Wainwright cut their price target on shares of Genelux from $35.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Benchmark restated a “speculative buy” rating and issued a $30.00 price target on shares of Genelux in a research report on Wednesday, April 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GNLX. Amalgamated Bank grew its stake in Genelux by 250.8% during the 3rd quarter. Amalgamated Bank now owns 1,077 shares of the company’s stock valued at $26,000 after acquiring an additional 770 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Genelux by 216.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,956 shares of the company’s stock worth $41,000 after buying an additional 2,021 shares in the last quarter. Barclays PLC boosted its stake in shares of Genelux by 516.4% during the 3rd quarter. Barclays PLC now owns 3,384 shares of the company’s stock valued at $83,000 after buying an additional 2,835 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Genelux by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,201 shares of the company’s stock worth $87,000 after acquiring an additional 1,573 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Genelux by 17.6% during the fourth quarter. New York State Common Retirement Fund now owns 6,461 shares of the company’s stock worth $91,000 after acquiring an additional 966 shares in the last quarter. 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.