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

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

A number of other research firms have also recently issued reports on GNLX. Roth Mkm assumed coverage on shares of Genelux in a report on Tuesday, August 27th. They set a “buy” rating and a $10.00 target price for the company. Roth Capital raised Genelux to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Guggenheim began coverage on Genelux in a report on Tuesday, October 29th. They set a “buy” rating and a $8.00 target price for the company. Four research 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, Genelux has an average rating of “Buy” and an average target price of $18.25.

Genelux Trading Up 11.4 %

GNLX stock opened at $2.63 on Friday. The stock has a 50-day moving average price of $2.65 and a two-hundred day moving average price of $2.57. Genelux has a 1 year low of $1.60 and a 1 year high of $16.60. The stock has a market cap of $90.81 million, a PE ratio of -2.77 and a beta of -1.85.

Insider Buying and Selling

In other Genelux news, major shareholder Aladar Szalay sold 107,045 shares of Genelux stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $1.98, for a total value of $211,949.10. Following the transaction, the insider now owns 925,228 shares in the company, valued at $1,831,951.44. The trade was a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 331,062 shares of company stock valued at $736,831 over the last quarter. 9.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genelux

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC acquired a new position in Genelux in the 1st quarter worth about $121,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Genelux during the 2nd quarter worth approximately $39,000. Brown Brothers Harriman & Co. increased its position in Genelux by 76.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 21,075 shares of the company’s stock valued at $50,000 after acquiring an additional 9,114 shares during the period. XTX Topco Ltd bought a new position in shares of Genelux during the third quarter valued at $59,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Genelux during the second quarter worth $56,000. Institutional investors own 37.33% of the company’s stock.

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.