HC Wainwright Reiterates “Buy” Rating for Genelux (NASDAQ:GNLX)

HC Wainwright reiterated their buy rating on shares of Genelux (NASDAQ:GNLX) in a report published on Monday morning,Benzinga reports. HC Wainwright currently has a $30.00 target price on the stock.

Genelux Price Performance

Shares of NASDAQ GNLX opened at $2.54 on Monday. Genelux has a 1-year low of $1.60 and a 1-year high of $5.89. The stock has a market capitalization of $88.21 million, a P/E ratio of -2.67 and a beta of -1.41. The business has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.10.

Genelux (NASDAQ:GNLX) last released its quarterly earnings results on Friday, March 28th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). As a group, equities research analysts anticipate that Genelux will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Genelux

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Genelux by 39.7% during the third quarter. Geode Capital Management LLC now owns 316,160 shares of the company’s stock valued at $749,000 after acquiring an additional 89,854 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Genelux by 51.4% during the fourth quarter. Marshall Wace LLP now owns 156,058 shares of the company’s stock worth $368,000 after purchasing an additional 52,958 shares in the last quarter. LPL Financial LLC raised its position in shares of Genelux by 72.3% during the 4th quarter. LPL Financial LLC now owns 94,144 shares of the company’s stock worth $222,000 after purchasing an additional 39,516 shares during the last quarter. LifeSteps Financial Inc. lifted its holdings in Genelux by 11.1% in the 4th quarter. LifeSteps Financial Inc. now owns 86,970 shares of the company’s stock valued at $205,000 after purchasing an additional 8,715 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Genelux in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 37.33% of the company’s stock.

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.