SELLAS Life Sciences Group (NASDAQ:SLS) Sets New 1-Year High – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.28 and last traded at $8.9910, with a volume of 376791 shares. The stock had previously closed at $7.59.

Wall Street Analyst Weigh In

A number of research firms recently commented on SLS. Maxim Group lifted their target price on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Price Performance

The firm’s fifty day simple moving average is $5.14 and its 200 day simple moving average is $3.82. The company has a market capitalization of $1.67 billion, a PE ratio of -38.02 and a beta of 2.24.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of SELLAS Life Sciences Group by 535.7% during the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock valued at $2,714,000 after purchasing an additional 540,748 shares in the last quarter. California State Teachers Retirement System grew its position in SELLAS Life Sciences Group by 22.4% during the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock valued at $39,000 after buying an additional 1,709 shares during the period. The Manufacturers Life Insurance Company increased its holdings in SELLAS Life Sciences Group by 20.2% in the first quarter. The Manufacturers Life Insurance Company now owns 45,691 shares of the company’s stock valued at $193,000 after buying an additional 7,673 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of SELLAS Life Sciences Group in the first quarter worth about $315,000. Finally, Independent Financial Group LLC acquired a new position in shares of SELLAS Life Sciences Group in the first quarter worth about $98,000. 17.38% of the stock is owned by institutional investors and hedge funds.

About SELLAS Life Sciences Group

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on the development of active cellular immunotherapies for cancer. Headquartered in Waltham, Massachusetts, SELLAS specializes in targeting the Wilms’ tumor 1 (WT1) antigen, a protein commonly overexpressed in a range of hematologic and solid tumors. Since its founding, the company has built a pipeline around the use of peptide-based vaccines designed to train the patient’s own immune system to recognize and attack WT1-positive cancer cells.

The company’s lead product candidate, galinpepimut-S (GPS), is an investigational multi-peptide vaccine directed against WT1.