SELLAS Life Sciences Group (NASDAQ:SLS) Trading 9.6% Higher – Time to Buy?

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) rose 9.6% on Thursday . The stock traded as high as $8.94 and last traded at $8.9750. Approximately 3,523,877 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 8,140,919 shares. The stock had previously closed at $8.19.

Analyst Upgrades and Downgrades

SLS has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Tuesday, April 21st. Maxim Group upped their target price on shares of SELLAS Life Sciences Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Price Performance

The company has a market cap of $1.70 billion, a PE ratio of -39.98 and a beta of 2.50. The business has a 50-day moving average of $5.82 and a 200 day moving average of $4.35.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings 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 purchasing an additional 1,709 shares in the last quarter. Grange Capital LLC lifted its holdings in SELLAS Life Sciences Group by 18.5% during the fourth quarter. Grange Capital LLC now owns 16,001 shares of the company’s stock valued at $60,000 after purchasing an additional 2,500 shares in the last quarter. Invesco Ltd. lifted its holdings in SELLAS Life Sciences Group by 6.2% during the fourth quarter. Invesco Ltd. now owns 53,293 shares of the company’s stock valued at $201,000 after purchasing an additional 3,114 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in SELLAS Life Sciences Group by 13.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 38,018 shares of the company’s stock valued at $143,000 after purchasing an additional 4,564 shares in the last quarter. Finally, Equitable Holdings Inc. raised its stake in SELLAS Life Sciences Group by 18.5% during the 4th quarter. Equitable Holdings Inc. now owns 32,060 shares of the company’s stock valued at $121,000 after purchasing an additional 5,000 shares during the period. 17.38% of the stock is currently owned by institutional investors.

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.