SELLAS Life Sciences Group (NASDAQ:SLS) Trading Down 12.5% – Here’s What Happened

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) dropped 12.5% during trading on Tuesday . The company traded as low as $9.44 and last traded at $9.4840. 3,293,286 shares were traded during mid-day trading, a decline of 61% from the average session volume of 8,454,730 shares. The stock had previously closed at $10.84.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The company has a fifty day simple moving average of $10.50 and a 200 day simple moving average of $6.79. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -43.91 and a beta of 2.42.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01.

Institutional Trading of SELLAS Life Sciences Group

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at about $26,000. California State Teachers Retirement System grew its position in SELLAS Life Sciences Group by 22.4% in the 1st 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 during the period. Beacon Pointe Advisors LLC bought a new position in shares of SELLAS Life Sciences Group in the fourth quarter valued at $38,000. Concurrent Investment Advisors LLC bought a new stake in shares of SELLAS Life Sciences Group during the fourth quarter worth about $38,000. Finally, Money Concepts Capital Corp bought a new position in SELLAS Life Sciences Group in the 4th quarter valued at about $40,000. Institutional investors own 17.38% of the company’s stock.

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.