Bruce Jackson, an analyst from Benchmark Co., maintained the Buy rating on Genelux Corp.. The associated price target is $23.00.
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Bruce Jackson has given his Buy rating due to a combination of factors related to Genelux Corp.’s innovative approach in cancer treatment. The company is making significant strides in developing next-generation immunotherapies using oncolytic viruses, which are designed to treat aggressive and difficult-to-treat solid tumors. Their lead product, Olvi-Vec, is undergoing multiple clinical trials, including a Phase 3 trial for Platinum-Resistant/Refractory Ovarian Cancer and a Phase 2 trial for Non-Small-Cell Lung Cancer. These trials are crucial in assessing the safety and efficacy of Olvi-Vec, with important data expected in the coming years.
Moreover, the potential of oncolytic viruses as a promising new cancer immunotherapy is noteworthy. These viruses can selectively target and destroy tumors by exploiting the tumor’s own lack of antiviral defenses, thereby stimulating a stronger immune response. This innovative approach not only addresses the limitations of traditional therapies but also opens up new avenues for combination treatments. With a solid financial position, Genelux is well-positioned to advance its clinical programs, justifying the Buy rating.
In another report released on August 8, Maxim Group also maintained a Buy rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GNLX in relation to earlier this year.