Genelux Co. (NASDAQ:GNLX) Short Interest Down 7.1% in October

Genelux Co. (NASDAQ:GNLX) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,040,000 shares, a decline of 7.1% from the September 30th total of 1,120,000 shares. Based on an average trading volume of 154,200 shares, the days-to-cover ratio is currently 6.7 days. Approximately 3.8% of the shares of the company are short sold.

Genelux Stock Performance

Shares of GNLX stock traded down $0.11 on Thursday, reaching $3.22. 138,888 shares of the company’s stock traded hands, compared to its average volume of 183,818. The business’s 50 day moving average price is $2.48 and its two-hundred day moving average price is $2.63. The company has a market capitalization of $111.20 million, a P/E ratio of -3.15 and a beta of -1.54. Genelux has a 12-month low of $1.60 and a 12-month high of $18.01.

Genelux (NASDAQ:GNLX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Research analysts predict that Genelux will post -0.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Aladar Szalay sold 40,000 shares of Genelux stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $2.29, for a total transaction of $91,600.00. Following the sale, the insider now directly owns 1,099,821 shares in the company, valued at $2,518,590.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 331,062 shares of company stock worth $736,831. 9.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genelux

A number of hedge funds have recently modified their holdings of GNLX. Armistice Capital LLC purchased a new position in Genelux in the second quarter valued at about $1,755,000. Highbridge Capital Management LLC bought a new stake in shares of Genelux in the 2nd quarter valued at approximately $1,231,000. Affinity Asset Advisors LLC bought a new stake in shares of Genelux in the 2nd quarter valued at approximately $195,000. Exchange Traded Concepts LLC increased its holdings in Genelux by 89.0% in the third quarter. Exchange Traded Concepts LLC now owns 65,930 shares of the company’s stock worth $156,000 after buying an additional 31,047 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in Genelux during the second quarter valued at approximately $58,000. 37.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Roth Capital raised Genelux to a “strong-buy” rating in a research note on Tuesday, August 27th. Guggenheim began coverage on shares of Genelux in a research note on Tuesday. They issued a “buy” rating and a $8.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Genelux in a research note on Thursday, August 15th. Finally, Roth Mkm started coverage on shares of Genelux in a research report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 price target on the stock. Four 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, the stock presently has an average rating of “Buy” and an average price target of $18.75.

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.