Genelux Co. (NASDAQ:GNLX) Major Shareholder Aladar Szalay Sells 48,683 Shares

Genelux Co. (NASDAQ:GNLX) major shareholder Aladar Szalay sold 48,683 shares of Genelux stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $3.53, for a total transaction of $171,850.99. Following the transaction, the insider now directly owns 1,322,862 shares of the company’s stock, valued at $4,669,702.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Genelux Price Performance

Shares of GNLX opened at $3.86 on Friday. Genelux Co. has a 12-month low of $3.42 and a 12-month high of $40.98. The firm has a fifty day moving average price of $6.25 and a 200-day moving average price of $11.64.

Institutional Trading of Genelux

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Genelux by 1,660.1% during the third quarter. Vanguard Group Inc. now owns 980,993 shares of the company’s stock valued at $24,025,000 after purchasing an additional 925,258 shares during the period. AE Wealth Management LLC lifted its stake in Genelux by 1,370.0% in the third quarter. AE Wealth Management LLC now owns 194,875 shares of the company’s stock worth $4,772,000 after acquiring an additional 181,618 shares during the period. D.A. Davidson & CO. purchased a new stake in Genelux in the third quarter worth about $237,000. Advisor Resource Council purchased a new stake in Genelux in the fourth quarter worth about $233,000. Finally, Barclays PLC lifted its stake in Genelux by 516.4% in the third quarter. Barclays PLC now owns 3,384 shares of the company’s stock worth $83,000 after acquiring an additional 2,835 shares during the period. 37.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright dropped their price objective on shares of Genelux from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Benchmark reaffirmed a “speculative buy” rating and set a $30.00 price objective on shares of Genelux in a research note on Wednesday, April 3rd.

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.