Exchange Traded Concepts LLC Boosts Stake in Genelux Co. (NASDAQ:GNLX)

Exchange Traded Concepts LLC raised its position in shares of Genelux Co. (NASDAQ:GNLX) by 89.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,930 shares of the company’s stock after acquiring an additional 31,047 shares during the period. Exchange Traded Concepts LLC owned approximately 0.19% of Genelux worth $156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Woodward Diversified Capital LLC boosted its position in shares of Genelux by 0.3% in the first quarter. Woodward Diversified Capital LLC now owns 1,085,957 shares of the company’s stock worth $6,983,000 after buying an additional 3,687 shares during the period. Vanguard Group Inc. boosted its position in shares of Genelux by 2.4% in the first 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 period. Armistice Capital LLC purchased a new stake in shares of Genelux in the second quarter worth about $1,755,000. Highbridge Capital Management LLC purchased a new stake in shares of Genelux in the second quarter worth about $1,231,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Genelux in the second quarter worth about $195,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Insider Buying and Selling at Genelux

In other Genelux news, major shareholder Aladar Szalay sold 23,383 shares of the company’s 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 sale, the insider now owns 716,438 shares in the company, valued at $1,934,382.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 331,062 shares of company stock worth $736,831 over the last quarter. 9.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GNLX shares. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Genelux in a research report on Thursday, August 15th. Roth Mkm assumed coverage on Genelux in a research report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Roth Capital upgraded Genelux to a “strong-buy” rating in a research note on Tuesday, August 27th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Genelux presently has an average rating of “Buy” and an average price target of $22.33.

Genelux Stock Performance

NASDAQ:GNLX opened at $2.65 on Tuesday. Genelux Co. has a one year low of $1.60 and a one year high of $20.25. The business’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.70. The stock has a market cap of $91.03 million, a price-to-earnings ratio of -2.73 and a beta of -1.54.

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

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.