SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – Here’s Why

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) gapped up before the market opened on Friday. The stock had previously closed at $8.03, but opened at $8.69. SELLAS Life Sciences Group shares last traded at $8.4920, with a volume of 1,994,249 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Thursday, October 15th. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SELLAS Life Sciences Group presently has a consensus rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Up 3.0%

The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -39.33 and a beta of 2.73. The business’s 50-day simple moving average is $11.15 and its two-hundred day simple moving average is $8.75.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05).

Institutional Trading of SELLAS Life Sciences Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new stake in shares of SELLAS Life Sciences Group in the 3rd quarter valued at $632,000. Private Advisor Group LLC lifted its stake in SELLAS Life Sciences Group by 36.0% during the 3rd quarter. Private Advisor Group LLC now owns 21,278 shares of the company’s stock worth $262,000 after acquiring an additional 5,628 shares in the last quarter. Voya Investment Management LLC lifted its stake in SELLAS Life Sciences Group by 358.1% during the 3rd quarter. Voya Investment Management LLC now owns 170,848 shares of the company’s stock worth $2,103,000 after acquiring an additional 133,550 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in SELLAS Life Sciences Group by 15.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 27,688 shares of the company’s stock valued at $341,000 after acquiring an additional 3,704 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in SELLAS Life Sciences Group by 42.2% during the 3rd quarter. Alps Advisors Inc. now owns 267,545 shares of the company’s stock valued at $3,293,000 after acquiring an additional 79,438 shares during the period. Hedge funds and other institutional investors own 17.38% of the company’s stock.

About SELLAS Life Sciences Group

SELLAS Life Sciences Group is a clinical-stage biopharmaceutical company focused on developing treatments for cancer. Its research centers on immunotherapies and other therapies intended to address hematologic malignancies and solid tumors. The company does not have an established portfolio of marketed products; its work is focused on clinical development. Its pipeline includes galinpepimut-S (GPS), an immunotherapy designed to target the Wilms’ tumor 1 (WT1) protein, which is found in several types of cancer.