Genelux (NASDAQ:GNLX) Price Target Cut to $30.00 by Analysts at HC Wainwright

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

Other equities research analysts also recently issued reports about the company. Roth Mkm started coverage on Genelux in a report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 target price for the company. Roth Capital upgraded shares of 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 issued a “buy” rating and a $8.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Genelux has a consensus rating of “Buy” and a consensus target price of $18.25.

Genelux Stock Up 11.4 %

GNLX stock opened at $2.63 on Friday. The company’s fifty day simple moving average is $2.65 and its 200 day simple moving average is $2.57. Genelux has a 12-month low of $1.60 and a 12-month high of $16.60. The firm has a market cap of $90.81 million, a price-to-earnings ratio of -2.77 and a beta of -1.85.

Insiders Place Their Bets

In other Genelux news, major shareholder Aladar Szalay sold 23,383 shares of the business’s stock in a transaction on Monday, September 9th. The shares were 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 of the company’s stock, valued at $1,934,382.60. The trade was a 3.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 331,062 shares of company stock valued at $736,831. Company insiders own 9.30% of the company’s stock.

Hedge Funds Weigh In On Genelux

Several hedge funds have recently bought and sold shares of the company. Highbridge Capital Management LLC purchased a new stake in Genelux in the second quarter worth approximately $1,231,000. Armistice Capital LLC bought a new position in shares of Genelux during the second quarter valued at $1,755,000. Affinity Asset Advisors LLC purchased a new position in Genelux in the second quarter worth about $195,000. Cubist Systematic Strategies LLC bought a new position in shares of Genelux in the second quarter worth approximately $56,000. Finally, AMG National Trust Bank raised its holdings in Genelux by 49.7% in the 2nd quarter. AMG National Trust Bank now owns 75,351 shares of the company’s stock worth $147,000 after acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 37.33% of the company’s stock.

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.