HC Wainwright Issues Pessimistic Forecast for Genelux (NASDAQ:GNLX) Stock Price

Genelux (NASDAQ:GNLX - Free Report) had its price objective trimmed by HC Wainwright from $32.00 to $30.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Roth Capital upgraded Genelux to a "strong-buy" rating in a research report on Tuesday, August 27th. Roth Mkm assumed coverage on Genelux in a research report on Tuesday, August 27th. They issued a "buy" rating and a $10.00 target price for the company. Finally, Guggenheim assumed coverage on Genelux in a research note on Tuesday, October 29th. They set a "buy" rating and a $8.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Genelux currently has a consensus rating of "Buy" and an average target price of $18.25.

Genelux Stock Down 18.4 %

Shares of NASDAQ GNLX traded down $0.54 during midday trading on Friday, reaching $2.40. 260,858 shares of the stock were exchanged, compared to its average volume of 182,260. The firm has a market cap of $82.87 million, a price-to-earnings ratio of -2.75 and a beta of -1.85. The firm has a 50-day simple moving average of $2.66 and a two-hundred day simple moving average of $2.59. Genelux has a twelve month low of $1.60 and a twelve month high of $16.60.

Genelux (NASDAQ:GNLX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Research analysts expect that Genelux will post -0.89 EPS for the current fiscal year.

Insider Activity at Genelux

In other Genelux news, major shareholder Aladar Szalay sold 51,630 shares of Genelux stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $2.11, for a total transaction of $108,939.30. Following the completion of the sale, the insider now directly owns 1,048,191 shares in the company, valued at $2,211,683.01. The trade was a 4.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 331,062 shares of company stock valued at $736,831. 9.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genelux

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SageView Advisory Group LLC purchased a new stake in Genelux in the first quarter worth about $121,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Genelux in the 2nd quarter valued at about $39,000. Brown Brothers Harriman & Co. raised its holdings in Genelux by 76.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 21,075 shares of the company's stock valued at $50,000 after buying an additional 9,114 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Genelux in the second quarter valued at $56,000. Finally, Miracle Mile Advisors LLC bought a new stake in Genelux in the second quarter worth about $58,000. Hedge funds and other institutional investors own 37.33% of the company's stock.

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.