Genelux (NASDAQ:GNLX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Genelux (NASDAQ:GNLX) from a sell rating to a strong sell rating in a research note released on Monday morning,Wall Street Zen reports.

A number of other research firms have also recently commented on GNLX. Benchmark reissued a “speculative buy” rating on shares of Genelux in a research note on Tuesday, August 18th. Lucid Cap Mkts raised Genelux to a “strong-buy” rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Genelux in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Genelux Stock Down 7.9%

Genelux stock opened at $2.32 on Monday. Genelux has a twelve month low of $2.29 and a twelve month high of $8.53. The company has a market capitalization of $104.96 million, a P/E ratio of -2.70 and a beta of 0.59. The stock’s 50 day moving average is $2.58 and its 200 day moving average is $2.75.

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

Insider Buying and Selling

In related news, insider Yong Yu sold 9,683 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $2.75, for a total transaction of $26,628.25. Following the completion of the sale, the insider owned 258,688 shares of the company’s stock, valued at $711,392. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Zindrick sold 34,463 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $2.67, for a total transaction of $92,016.21. Following the sale, the chief executive officer directly owned 1,226,427 shares of the company’s stock, valued at $3,274,560.09. This trade represents a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 47,822 shares of company stock worth $129,482. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Genelux

A number of institutional investors and hedge funds have recently modified their holdings of GNLX. GSA Capital Partners LLP bought a new position in shares of Genelux during the second quarter valued at $35,000. Strive Financial Group LLC boosted its position in shares of Genelux by 728.7% during the second quarter. Strive Financial Group LLC now owns 41,437 shares of the company’s stock valued at $125,000 after buying an additional 36,437 shares during the last quarter. SteelPeak Wealth LLC boosted its position in shares of Genelux by 458.9% during the first quarter. SteelPeak Wealth LLC now owns 60,895 shares of the company’s stock valued at $147,000 after buying an additional 50,000 shares during the last quarter. AMG National Trust Bank bought a new stake in Genelux in the 2nd quarter worth about $227,000. Finally, Citadel Advisors LLC bought a new stake in Genelux in the 2nd quarter worth about $257,000. Institutional investors own 37.33% of the company’s stock.

Genelux Company Profile

Genelux Corporation is a clinical-stage biotechnology company focused on developing novel cancer treatments based on oncolytic virus immunotherapies. The company’s platform is designed to use genetically modified viruses to selectively infect and destroy tumor cells while stimulating the patient’s immune system to recognize and attack cancer.

Genelux’s lead product candidate is Olvi-Vec (olvimulogene nanivacirepvec), a proprietary modified vaccinia virus being studied in combination with other therapies for advanced solid tumors.