In a recent transaction, Genelux Corp (NASDAQ:GNLX) CEO Tyree James L sold 3,460 shares of the company’s stock. The shares were sold at a weighted average price of $2.46, for a total transaction amounting to $8,511. After this sale, James holds 45,791 shares in the company. The sale was completed on December 30, 2024, according to SEC filings. The transaction comes as GNLX shares have fallen 83% over the past year, though InvestingPro analysis suggests that the stock is currently undervalued. With a market capitalization of $84.6 million, analysts maintain optimistic price targets in the range of $8 to $30 per share. For comprehensive insider trading patterns and additional insights, subscribers to InvestingPro have access to 8 more key investment tips for GNLX.
In other recent news, Genelux Corp. is subject to significant financial and clinical development. The company’s third-quarter earnings report prompted HC Wainwright to adjust its price target on Genelux shares from $32 to $30, while maintaining a Buy rating. This follows the company’s ongoing collaboration with Newsoara Biopharma in China on a phase 1b/2 trial for recurrent small cell lung cancer (SCLC), with interim data expected by the end of 2024.
Guggenheim also initiated coverage on Genelux with a Buy rating and a $8 price target. This comes as Genelux advances its Phase 2 trial of Olvi-Vec for patients with non-small cell lung cancer (NSCLC), with interim data expected by mid-2025. In addition, the company is conducting phase 3 trials for Olvi-Vec in combination with chemotherapy for ovarian cancer.
In other updates, Genelux recently raised $27.5 million through a stock offering of 6.875 million shares. However, the company announced the resignation of Caroline Jewett, vice president and chief quality officer, effective October 18, 2024. These are among recent developments as Genelux continues to advance its cancer treatment plan.
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