Brown Brothers Harriman & Co. Trims Stock Position in Genelux Co. (NASDAQ:GNLX)

Brown Brothers Harriman & Co. decreased its holdings in Genelux Co. (NASDAQ:GNLX) by 31.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,449 shares of the company’s stock after selling 6,626 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Genelux were worth $34,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GNLX. Geode Capital Management LLC raised its position in Genelux by 39.7% in the third quarter. Geode Capital Management LLC now owns 316,160 shares of the company’s stock worth $749,000 after acquiring an additional 89,854 shares during the period. LPL Financial LLC raised its holdings in Genelux by 72.3% in the 4th quarter. LPL Financial LLC now owns 94,144 shares of the company’s stock worth $222,000 after purchasing an additional 39,516 shares during the period. XTX Topco Ltd bought a new position in Genelux in the 3rd quarter worth $59,000. D.A. Davidson & CO. purchased a new position in Genelux during the fourth quarter valued at $51,000. Finally, Raymond James Financial Inc. bought a new stake in Genelux during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 37.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Genelux in a research report on Monday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.25.

Genelux Stock Performance

Shares of GNLX stock opened at $2.54 on Thursday. The stock has a fifty day simple moving average of $4.04 and a two-hundred day simple moving average of $3.10. The firm has a market capitalization of $88.21 million, a PE ratio of -2.67 and a beta of -1.41. Genelux Co. has a 52-week low of $1.60 and a 52-week high of $5.89.

Genelux (NASDAQ:GNLX) last released its quarterly earnings data on Friday, March 28th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). On average, sell-side analysts forecast that Genelux Co. will post -0.88 EPS for the current fiscal year.

Genelux 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.