Brokerages Set Genelux Co. (NASDAQ:GNLX) PT at $22.33

Shares of Genelux Co. (NASDAQ:GNLX - Get Free Report) have earned a consensus rating of "Buy" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.75.

A number of analysts recently commented on GNLX shares. Guggenheim started coverage on shares of Genelux in a report on Tuesday. They issued a "buy" rating and a $8.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of Genelux in a research note on Thursday, August 15th. Roth Mkm assumed coverage on shares of Genelux in a report on Tuesday, August 27th. They set a "buy" rating and a $10.00 price target on the stock. Finally, Roth Capital raised shares of Genelux to a "strong-buy" rating in a research note on Tuesday, August 27th.

Genelux Stock Up 4.1 %

GNLX traded up $0.12 during trading on Tuesday, reaching $3.08. The stock had a trading volume of 122,739 shares, compared to its average volume of 183,370. Genelux has a 1-year low of $1.60 and a 1-year high of $18.01. The firm has a market capitalization of $105.80 million, a price-to-earnings ratio of -3.23 and a beta of -1.54. The stock has a 50 day moving average of $2.44 and a two-hundred day moving average of $2.63.

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

Insider Transactions at Genelux

In related news, major shareholder Aladar Szalay sold 40,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $2.29, for a total value of $91,600.00. Following the completion of the sale, the insider now directly owns 1,099,821 shares in the company, valued at approximately $2,518,590.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 331,062 shares of company stock worth $736,831 in the last 90 days. 9.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Genelux

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Genelux during the 2nd quarter valued at $39,000. Cubist Systematic Strategies LLC acquired a new position in shares of Genelux during the second quarter valued at about $56,000. Miracle Mile Advisors LLC bought a new stake in shares of Genelux in the second quarter valued at about $58,000. SageView Advisory Group LLC acquired a new stake in Genelux during the first quarter worth about $121,000. Finally, LifeSteps Financial Inc. increased its stake in Genelux by 50.2% during the second 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 during the period. 37.33% of the stock is owned by institutional investors and hedge funds.

Genelux Company Profile

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.