SELLAS Life Sciences Group (NASDAQ:SLS) Stock Falls 8.2% – Time to Sell?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares fell 8.2% during trading on Thursday. The stock traded as low as $11.51 and last traded at $11.2960. Approximately 2,914,079 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 8,026,477 shares. The stock had previously closed at $12.31.

Analysts Set New Price Targets

SLS has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Trading Down 7.8%

The stock has a market cap of $2.29 billion, a P/E ratio of -53.90 and a beta of 2.52. The stock’s 50-day moving average is $12.37 and its 200-day moving average is $9.38.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01).

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nykredit A S purchased a new position in shares of SELLAS Life Sciences Group during the 2nd quarter worth about $27,000. California State Teachers Retirement System grew its holdings in SELLAS Life Sciences Group by 22.4% in 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 during the last quarter. Wealthfront Advisers LLC acquired a new stake in SELLAS Life Sciences Group during the 1st quarter valued at $48,000. Principal Financial Group Inc. acquired a new stake in SELLAS Life Sciences Group in the 1st quarter worth about $53,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in SELLAS Life Sciences Group by 82.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,777 shares of the company’s stock worth $75,000 after acquiring an additional 8,944 shares during the last quarter. 17.38% of the stock is owned by institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel cancer therapies, particularly immunotherapies and targeted treatments for patients with difficult-to-treat malignancies. The company’s research and development programs are designed to address cancers with significant unmet medical needs.

SELLAS’s lead immunotherapy candidate, galinpepimut-S (GPS), is a multi-peptide vaccine intended to stimulate the immune system against Wilms’ tumor 1 (WT1), a protein expressed in several types of cancer.