Genelux (NASDAQ:GNLX) Posts Earnings Results, Beats Estimates By $0.02 EPS

Genelux (NASDAQ:GNLX) released its quarterly earnings results on Wednesday. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02, Zacks reports.

Genelux Stock Down 3.3%

NASDAQ GNLX opened at $7.84 on Thursday. The company has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $3.74. Genelux has a 12-month low of $1.99 and a 12-month high of $8.54. The firm has a market cap of $296.12 million, a price-to-earnings ratio of -9.12 and a beta of -0.09.

Institutional Trading of Genelux

Several institutional investors have recently added to or reduced their stakes in GNLX. Raymond James Financial Inc. boosted its position in Genelux by 22.6% during the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock valued at $83,000 after buying an additional 5,333 shares during the period. Marshall Wace LLP bought a new position in shares of Genelux during the second quarter valued at about $92,000. Jane Street Group LLC bought a new position in shares of Genelux during the first quarter valued at about $190,000. Goldman Sachs Group Inc. bought a new position in shares of Genelux during the first quarter valued at about $239,000. Finally, Osaic Holdings Inc. raised its stake in shares of Genelux by 1,911.4% during the second quarter. Osaic Holdings Inc. now owns 105,016 shares of the company’s stock valued at $301,000 after acquiring an additional 99,795 shares during the last quarter. 37.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Loop Capital set a $16.00 target price on shares of Genelux in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Genelux from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Lake Street Capital assumed coverage on shares of Genelux in a research report on Tuesday, October 21st. They issued a “buy” rating and a $16.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating on shares of Genelux in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Genelux has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.