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

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

A number of other brokerages have also issued reports on GNLX. Guggenheim assumed 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. Roth Mkm started coverage on Genelux in a research report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Roth Capital upgraded Genelux to a “strong-buy” rating in a research note on Tuesday, August 27th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.25.

Genelux Trading Down 19.7 %

NASDAQ:GNLX opened at $2.36 on Friday. The firm 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 12-month low of $1.60 and a 12-month high of $16.60. The company’s 50-day moving average is $2.65 and its two-hundred day moving average is $2.58.

Insider Buying and Selling at Genelux

In related news, major shareholder Aladar Szalay sold 40,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $2.29, for a total transaction of $91,600.00. Following the completion of the sale, the insider now owns 1,099,821 shares of the company’s stock, valued at approximately $2,518,590.09. This represents a 3.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 331,062 shares of company stock worth $736,831 in the last quarter. 9.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Genelux

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Genelux by 39.7% during the 3rd 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. XTX Topco Ltd purchased a new position in Genelux in the third quarter valued at about $59,000. Brown Brothers Harriman & Co. lifted its stake in shares of Genelux by 76.2% during the third quarter. Brown Brothers Harriman & Co. now owns 21,075 shares of the company’s stock worth $50,000 after purchasing an additional 9,114 shares in the last quarter. LifeSteps Financial Inc. boosted its position in shares of Genelux by 17.6% in the third quarter. LifeSteps Financial Inc. now owns 78,255 shares of the company’s stock worth $185,000 after buying an additional 11,719 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Genelux by 89.0% in the third quarter. Exchange Traded Concepts LLC now owns 65,930 shares of the company’s stock valued at $156,000 after buying an additional 31,047 shares in the last quarter. 37.33% of the stock is currently owned by hedge funds and other 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.