Genelux (NASDAQ:GNLX) Earns Buy Rating from Analysts at Guggenheim

Equities research analysts at Guggenheim began coverage on shares of Genelux (NASDAQ:GNLX - Get Free Report) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set a "buy" rating and a $8.00 price target on the stock. Guggenheim's price target indicates a potential upside of 158.90% from the stock's current price.

Several other brokerages have also commented on GNLX. Roth Capital raised Genelux to a "strong-buy" rating in a research note on Tuesday, August 27th. HC Wainwright reiterated a "buy" rating and set a $32.00 price target on shares of Genelux in a report on Thursday, August 15th. Finally, Roth Mkm initiated coverage on Genelux in a report on Tuesday, August 27th. They issued a "buy" rating and a $10.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.75.

Genelux Trading Up 4.4 %

GNLX stock traded up $0.13 during mid-day trading on Tuesday, reaching $3.09. The company's stock had a trading volume of 128,807 shares, compared to its average volume of 183,399. The stock has a market cap of $106.15 million, a PE ratio of -3.19 and a beta of -1.54. The company's 50 day moving average is $2.46 and its two-hundred day moving average is $2.62. Genelux has a fifty-two week low of $1.60 and a fifty-two week high of $18.01.

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

Insider Activity at Genelux

In other Genelux news, major shareholder Aladar Szalay sold 33,080 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $2.57, for a total value of $85,015.60. Following the completion of the transaction, the insider now owns 599,821 shares in the company, valued at $1,541,539.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 331,062 shares of company stock worth $736,831. 9.30% of the stock is owned by company insiders.

Institutional Trading of Genelux

A number of institutional investors and hedge funds have recently modified their holdings of the business. Armistice Capital LLC bought a new position in shares of Genelux in the second quarter worth $1,755,000. Highbridge Capital Management LLC bought a new position in Genelux in the 2nd quarter valued at about $1,231,000. Affinity Asset Advisors LLC bought a new stake in shares of Genelux during the 2nd quarter worth about $195,000. Exchange Traded Concepts LLC raised its position in shares of Genelux by 89.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 65,930 shares of the company's stock worth $156,000 after buying an additional 31,047 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in shares of Genelux in the second quarter valued at approximately $58,000. 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.