In a recent transaction, Tyree James L, a director at Genelux Corp (NASDAQ:GNLX), sold 3,460 shares of the company's common stock. The shares were sold at a weighted average price of $2.46, with the transaction amounting to a total of $8,511. Following this sale, James holds 45,791 shares in the company. The sale was executed on December 30, 2024, as per the SEC filing.The transaction comes as GNLX shares have declined 83% over the past year, though InvestingPro analysis suggests the stock is currently undervalued. With a market capitalization of $84.6 million, analysts maintain optimistic price targets ranging from $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. has been the subject of significant financial and clinical developments. The company's third-quarter earnings report led H.C. Wainwright to adjust its price target for Genelux shares from $32 to $30, while maintaining a Buy rating. This followed the firm'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 has also initiated coverage on Genelux with a Buy rating and an $8 price target. This comes as Genelux advances its Phase 2 trial for Olvi-Vec aimed at non-small cell lung cancer (NSCLC) patients, with interim data anticipated by mid-2025. Additionally, the company is conducting a Phase 3 trial for Olvi-Vec in combination with chemotherapy for ovarian cancer.
In other updates, Genelux recently raised $27.5 million through an equity offering of 6.875 million shares. However, the company announced the resignation of Caroline Jewett, Vice President and Head of Quality, effective October 18, 2024. These are among the recent developments as Genelux continues to advance its cancer treatment pipeline.
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