HC Wainwright Lowers Genelux (NASDAQ:GNLX) Price Target to $30.00

Genelux (NASDAQ:GNLX) had its price target reduced by HC Wainwright from $32.00 to $30.00 in a research note released on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

GNLX has been the subject of a number of other research reports. Roth Capital upgraded Genelux to a “strong-buy” rating in a research report on Tuesday, August 27th. Guggenheim initiated coverage on shares of Genelux in a research report on Tuesday, October 29th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Roth Mkm started coverage on shares of Genelux in a research report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 price target for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.25.

Genelux Price Performance

NASDAQ:GNLX traded down $0.58 during trading hours on Friday, hitting $2.36. The company’s stock had a trading volume of 361,095 shares, compared to its average volume of 182,707. Genelux has a twelve month low of $1.60 and a twelve month high of $16.60. The stock has a fifty day simple moving average of $2.65 and a 200-day simple moving average of $2.59. The company has a market capitalization of $81.50 million, a P/E ratio of -2.48 and a beta of -1.85.

Genelux (NASDAQ:GNLX) last announced its quarterly earnings results 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). On average, equities analysts predict 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 23,383 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $2.70, for a total transaction of $63,134.10. Following the transaction, the insider now directly owns 716,438 shares in the company, valued at approximately $1,934,382.60. This represents a 3.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 331,062 shares of company stock worth $736,831 over the last quarter. Company insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GNLX. Point72 Asia Singapore Pte. Ltd. bought a new stake in Genelux in the second quarter valued at $39,000. Brown Brothers Harriman & Co. raised its stake in Genelux by 76.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 21,075 shares of the company’s stock worth $50,000 after buying an additional 9,114 shares during the period. Cubist Systematic Strategies LLC bought a new position in Genelux in the second quarter worth approximately $56,000. Miracle Mile Advisors LLC bought a new position in Genelux in the second quarter worth approximately $58,000. Finally, XTX Topco Ltd acquired a new position in shares of Genelux during the third quarter worth approximately $59,000. 37.33% of the stock is owned by institutional investors.

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.