Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on Genelux Corp.. The associated price target remains the same with $31.00.
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Emily Bodnar’s rating is based on the promising clinical trial results and strategic positioning of Genelux Corp.’s Olvi-Vec. Despite a competitor’s recent setback with the FDA, Bodnar believes that Olvi-Vec’s ongoing Phase 3 trial for platinum-resistant/refractory ovarian cancer is well-structured and adheres to FDA guidelines, which increases its chances for approval.
The trial’s design, which includes a randomized controlled setup with survival endpoints, distinguishes it from less rigorous studies. Additionally, Olvi-Vec has shown significant efficacy in earlier trials, demonstrating the ability to re-sensitize tumors to platinum chemotherapy and improve patient outcomes. These factors contribute to Bodnar’s confidence in the potential success of Olvi-Vec and justify the Buy rating for Genelux Corp.’s stock.
In another report released on July 21, Lucid Capital also initiated coverage with a Buy rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 32 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.