Genelux Co. (NASDAQ:GNLX) Major Shareholder Aladar Szalay Sells 42,818 Shares

Genelux Co. (NASDAQ:GNLX) major shareholder Aladar Szalay sold 42,818 shares of Genelux stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $2.09, for a total transaction of $89,489.62. Following the completion of the transaction, the insider now directly owns 739,821 shares in the company, valued at $1,546,225.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aladar Szalay also recently made the following trade(s):

• On Thursday, August 29th, Aladar Szalay sold 107,045 shares of Genelux stock. The shares were sold at an average price of $1.98, for a total value of $211,949.10.
• On Tuesday, August 27th, Aladar Szalay sold 51,630 shares of Genelux stock. The shares were sold at an average price of $2.11, for a total value of $108,939.30.
• On Friday, August 23rd, Aladar Szalay sold 40,000 shares of Genelux stock. The shares were sold at an average price of $2.29, for a total transaction of $91,600.00.

Genelux Price Performance

Shares of Genelux stock opened at $2.80 on Friday. The stock has a market cap of $96.19 million, a PE ratio of -2.89 and a beta of -1.55. The firm has a fifty day moving average price of $2.14 and a 200 day moving average price of $3.60. Genelux Co. has a 1 year low of $1.60 and a 1 year high of $30.44.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Genelux in a research note on Thursday, August 15th. Roth Capital raised Genelux to a “strong-buy” rating in a research report on Tuesday, August 27th. Roth Mkm started coverage on Genelux in a research note on Tuesday, August 27th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Benchmark cut their price objective on Genelux from $30.00 to $25.00 and set a “speculative buy” rating on the stock in a report on Friday, May 31st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $26.75.

Institutional Investors Weigh In On Genelux

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its stake in shares of Genelux by 17.6% in the fourth quarter. New York State Common Retirement Fund now owns 6,461 shares of the company’s stock worth $91,000 after buying an additional 966 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in Genelux in the fourth quarter valued at approximately $196,000. SageView Advisory Group LLC acquired a new position in Genelux in the first quarter valued at approximately $121,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Genelux in the 2nd quarter worth approximately $39,000. Finally, Clarity Capital Partners LLC acquired a new stake in shares of Genelux during the 4th quarter worth approximately $364,000. 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.