HC Wainwright Has Lowered Expectations for Genelux (NASDAQ:GNLX) Stock Price

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

Several other research firms have also recently commented on GNLX. Roth Mkm assumed coverage on Genelux in a research note on Tuesday, August 27th. They set a “buy” rating and a $10.00 target price for the company. Roth Capital raised shares of Genelux to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Guggenheim started coverage on shares of Genelux in a research note on Tuesday, October 29th. They issued a “buy” rating and a $8.00 target price on the stock. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genelux currently has a consensus rating of “Buy” and a consensus price target of $18.25.

Genelux Stock Performance

NASDAQ:GNLX opened at $2.36 on Friday. The stock has a market cap of $81.49 million, a price-to-earnings ratio of -2.48 and a beta of -1.85. Genelux has a one year low of $1.60 and a one year high of $16.60. The business’s 50-day simple moving average is $2.65 and its 200 day simple moving average is $2.58.

Insiders Place Their Bets

In other Genelux news, major shareholder Aladar Szalay sold 51,630 shares of the stock in a transaction 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 sale, the insider now directly owns 1,048,191 shares of the company’s stock, valued at approximately $2,211,683.01. This represents a 4.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 331,062 shares of company stock valued at $736,831 over the last 90 days. 9.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genelux

A number of institutional investors have recently modified their holdings of the business. SageView Advisory Group LLC acquired a new position in Genelux in the first quarter valued at approximately $121,000. Vanguard Group Inc. grew its stake in Genelux by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,023,030 shares of the company’s stock worth $6,578,000 after buying an additional 24,220 shares during the last quarter. LifeSteps Financial Inc. increased its position in Genelux by 50.2% in the second quarter. LifeSteps Financial Inc. now owns 66,536 shares of the company’s stock worth $130,000 after buying an additional 22,227 shares during the period. Miracle Mile Advisors LLC acquired a new stake in Genelux in the second quarter worth $58,000. Finally, AMG National Trust Bank boosted its holdings in shares of Genelux by 49.7% during the second quarter. AMG National Trust Bank now owns 75,351 shares of the company’s stock valued at $147,000 after acquiring an additional 25,000 shares during the period. 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.