Genelux (NASDAQ:GNLX) Price Target Cut to $30.00 by Analysts at HC Wainwright

Genelux (NASDAQ:GNLX) had its price objective decreased by investment analysts at HC Wainwright from $32.00 to $30.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Other research analysts have also recently issued research reports about the company. Roth Mkm began coverage on Genelux in a report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 target price on the stock. Guggenheim assumed coverage on Genelux in a research note on Tuesday, October 29th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Roth Capital upgraded shares of Genelux to a “strong-buy” rating in a report on Tuesday, August 27th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.25.

Genelux Trading Up 4.6 %

NASDAQ GNLX opened at $2.94 on Friday. The business’s 50-day moving average price is $2.66 and its 200 day moving average price is $2.59. Genelux has a twelve month low of $1.60 and a twelve month high of $16.60. The company has a market capitalization of $101.52 million, a PE ratio of -3.06 and a beta of -1.85.

Genelux (NASDAQ:GNLX) last released its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Equities analysts predict that Genelux will post -0.89 EPS for the current year.

Insider Activity

In other Genelux news, major shareholder Aladar Szalay sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $2.29, for a total transaction of $91,600.00. Following the sale, the insider now owns 1,099,821 shares in the company, valued at $2,518,590.09. This represents a 3.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 331,062 shares of company stock worth $736,831 over the last ninety days. Corporate insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. SageView Advisory Group LLC bought a new stake in shares of Genelux in the 1st quarter worth approximately $121,000. Vanguard Group Inc. raised its holdings in shares of Genelux by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,023,030 shares of the company’s stock valued at $6,578,000 after acquiring an additional 24,220 shares during the period. LifeSteps Financial Inc. lifted its position in shares of Genelux by 50.2% in the 2nd quarter. LifeSteps Financial Inc. now owns 66,536 shares of the company’s stock valued at $130,000 after acquiring an additional 22,227 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in Genelux in the 2nd quarter worth approximately $58,000. Finally, AMG National Trust Bank grew its position in Genelux by 49.7% during the 2nd quarter. AMG National Trust Bank now owns 75,351 shares of the company’s stock worth $147,000 after purchasing an additional 25,000 shares in the last quarter. 37.33% of the stock is owned by institutional investors and hedge funds.

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.