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

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

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Genelux in a research note on Friday, July 17th. Benchmark restated a “speculative buy” rating on shares of Genelux in a research note on Tuesday, August 18th. Finally, Lucid Cap Mkts upgraded shares of Genelux to a “strong-buy” rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Genelux presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Genelux Trading Down 0.4%

Shares of GNLX stock opened at $2.47 on Friday. The stock has a 50 day moving average of $2.67 and a two-hundred day moving average of $2.75. Genelux has a 12 month low of $2.29 and a 12 month high of $8.53. The company has a market capitalization of $111.74 million, a P/E ratio of -2.87 and a beta of 0.57.

Genelux (NASDAQ:GNLX) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Sell-side analysts predict that Genelux will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Yong Yu sold 9,683 shares of Genelux stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $2.75, for a total value of $26,628.25. Following the completion of the transaction, the insider owned 258,688 shares in the company, valued at approximately $711,392. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Zindrick sold 34,463 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $2.67, for a total value of $92,016.21. Following the completion of the transaction, the chief executive officer directly owned 1,226,427 shares in the company, valued at $3,274,560.09. The trade was a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 59,822 shares of company stock valued at $164,402. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genelux

Several institutional investors have recently bought and sold shares of GNLX. Citadel Advisors LLC acquired a new position in Genelux in the second quarter worth $257,000. Strive Financial Group LLC increased its stake in shares of Genelux by 728.7% in 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 in the last quarter. Bank of America Corp DE acquired a new stake in shares of Genelux in the second quarter valued at $990,000. BlackRock Inc. bought a new position in shares of Genelux in the second quarter valued at about $1,323,000. Finally, AMG National Trust Bank bought a new position in shares of Genelux in the second quarter valued at about $227,000. Institutional investors own 37.33% of the company’s stock.

About Genelux

Genelux Corporation is a clinical-stage biotechnology company focused on developing and commercializing therapies for cancer. The company’s research centers on oncolytic immunotherapies, which are designed to selectively infect and destroy tumor cells while stimulating the body’s immune response against cancer.

Genelux’s lead investigational product is olvimulogene nanivacirepvec, also known as Olvi-Vec or GL-ONC1. Olvi-Vec is a modified vaccinia virus being evaluated in clinical studies for several solid tumors, including ovarian cancer and other advanced or recurrent cancers.