Highbridge Capital Management LLC Invests $1.23 Million in Genelux Co. (NASDAQ:GNLX)

Highbridge Capital Management LLC bought a new stake in Genelux Co. (NASDAQ:GNLX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 631,307 shares of the company’s stock, valued at approximately $1,231,000. Highbridge Capital Management LLC owned approximately 1.84% of Genelux at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC bought a new position in shares of Genelux in the 2nd quarter valued at about $58,000. SageView Advisory Group LLC acquired a new position in shares of Genelux during the 1st quarter worth approximately $121,000. LifeSteps Financial Inc. raised its stake in shares of Genelux by 50.2% during the 2nd quarter. LifeSteps Financial Inc. now owns 66,536 shares of the company’s stock worth $130,000 after purchasing an additional 22,227 shares in the last quarter. AMG National Trust Bank boosted its holdings in shares of Genelux by 49.7% in the 2nd quarter. AMG National Trust Bank now owns 75,351 shares of the company’s stock valued at $147,000 after buying an additional 25,000 shares during the last quarter. Finally, Clarity Capital Partners LLC bought a new position in shares of Genelux in the fourth quarter valued at $364,000. 37.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Genelux

In related news, major shareholder Aladar Szalay sold 107,045 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $1.98, for a total value of $211,949.10. Following the completion of the sale, the insider now directly owns 925,228 shares in the company, valued at approximately $1,831,951.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 348,368 shares of company stock worth $773,520. Company insiders own 9.30% of the company’s stock.

Genelux Price Performance

Shares of GNLX opened at $2.45 on Thursday. The firm has a market capitalization of $84.16 million, a PE ratio of -2.53 and a beta of -1.55. The company’s 50-day moving average is $2.23 and its 200-day moving average is $3.31. Genelux Co. has a fifty-two week low of $1.60 and a fifty-two week high of $30.44.

Genelux (NASDAQ:GNLX) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Analysts predict that Genelux Co. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

GNLX has been the topic of several analyst reports. Benchmark dropped their price target on shares of Genelux from $30.00 to $25.00 and set a “speculative buy” rating on the stock in a research report on Friday, May 31st. Roth Mkm began coverage on shares of Genelux in a research note on Tuesday, August 27th. They issued a “buy” rating and a $10.00 target price for the company. Roth Capital raised Genelux to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Genelux in a research note on Thursday, August 15th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.33.

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.