Insider Selling: Genelux (NASDAQ:GNLX) Insider Sells 9,683 Shares of Stock

Genelux Corporation (NASDAQ:GNLX) insider Yong Yu sold 9,683 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $2.75, for a total value of $26,628.25. Following the transaction, the insider owned 258,688 shares of the company’s stock, valued at approximately $711,392. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Yong Yu also recently made the following trade(s):

• On Tuesday, August 4th, Yong Yu sold 653 shares of Genelux stock. The shares were sold at an average price of $2.94, for a total value of $1,919.82.

Genelux Trading Down 1.9%

GNLX traded down $0.05 during mid-day trading on Wednesday, hitting $2.55. 158,117 shares of the stock were exchanged, compared to its average volume of 366,336. The firm’s fifty day moving average is $2.83 and its two-hundred day moving average is $2.78. Genelux Corporation has a 1-year low of $2.29 and a 1-year high of $8.53. The company has a market cap of $115.36 million, a PE ratio of -2.97 and a beta of 0.57.

Genelux (NASDAQ:GNLX) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). As a group, research analysts anticipate that Genelux Corporation will post -0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GNLX. Benchmark reissued a “speculative buy” rating on shares of Genelux in a research report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Genelux from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Hedge Funds Weigh In On Genelux

A number of hedge funds have recently modified their holdings of GNLX. Goldman Sachs Group Inc. acquired a new position in shares of Genelux during the first quarter worth about $239,000. Jane Street Group LLC acquired a new stake in shares of Genelux in the 1st quarter worth approximately $190,000. Geode Capital Management LLC grew its position in shares of Genelux by 1.8% in the second quarter. Geode Capital Management LLC now owns 318,825 shares of the company’s stock valued at $915,000 after purchasing an additional 5,596 shares during the last quarter. Marshall Wace LLP purchased a new stake in Genelux during the 2nd quarter worth about $92,000. Finally, Raymond James Financial Inc. grew its holdings in shares of Genelux by 22.6% during the second quarter. Raymond James Financial Inc. now owns 28,933 shares of the company’s stock worth $83,000 after buying an additional 5,333 shares in the last quarter. 37.33% of the stock is currently owned by hedge funds and other institutional investors.

Genelux Company Profile

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.