Guggenheim Begins Coverage on Genelux (NASDAQ:GNLX)

Stock analysts at Guggenheim assumed coverage on shares of Genelux (NASDAQ:GNLX) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $8.00 price target on the stock. Guggenheim’s target price would indicate a potential upside of 140.24% from the stock’s current price.

Several other research firms have also commented on GNLX. Roth Capital raised shares of Genelux to a “strong-buy” rating in a research note on Tuesday, August 27th. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Genelux in a research note on Thursday, August 15th. Finally, Roth Mkm initiated coverage on shares of Genelux in a report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.75.

Genelux Trading Up 7.8 %

Shares of GNLX opened at $3.33 on Tuesday. The firm’s 50-day moving average price is $2.48 and its 200-day moving average price is $2.63. The firm has a market capitalization of $114.39 million, a price-to-earnings ratio of -3.43 and a beta of -1.54. Genelux has a 1-year low of $1.60 and a 1-year high of $18.01.

Genelux (NASDAQ:GNLX) last posted its quarterly earnings data 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, research analysts forecast that Genelux will post -0.89 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Aladar Szalay sold 51,630 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,048,191 shares of the company’s stock, valued at $2,211,683.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 331,062 shares of company stock valued at $736,831 over the last three months. Insiders own 9.30% of the company’s stock.

Institutional Trading of Genelux

Large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Genelux during the second quarter valued at approximately $39,000. Cubist Systematic Strategies LLC bought a new position in shares of Genelux in the second quarter worth approximately $56,000. Miracle Mile Advisors LLC bought a new position in shares of Genelux in the second quarter worth approximately $58,000. SageView Advisory Group LLC bought a new position in shares of Genelux in the first quarter worth approximately $121,000. Finally, LifeSteps Financial Inc. boosted its position in shares of 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 purchasing an additional 22,227 shares during the period. 37.33% of the stock is currently owned by institutional investors.

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.