SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 7.7% – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) dropped 7.7% on Monday . The company traded as low as $4.04 and last traded at $4.0250. Approximately 3,434,057 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 8,498,716 shares. The stock had previously closed at $4.36.

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 report on Thursday, January 22nd. Maxim Group increased their price target on 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SELLAS Life Sciences Group has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Trading Down 2.5%

The stock’s 50-day moving average price is $4.54 and its 200-day moving average price is $3.05. The stock has a market cap of $740.77 million, a price-to-earnings ratio of -16.58 and a beta of 2.18.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, analysts predict that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SLS. Grange Capital LLC lifted its stake in SELLAS Life Sciences Group by 18.5% in the fourth quarter. Grange Capital LLC now owns 16,001 shares of the company’s stock valued at $60,000 after buying an additional 2,500 shares during the period. Invesco Ltd. boosted its holdings in shares of SELLAS Life Sciences Group by 6.2% during the 4th quarter. Invesco Ltd. now owns 53,293 shares of the company’s stock worth $201,000 after buying an additional 3,114 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of SELLAS Life Sciences Group by 13.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 38,018 shares of the company’s stock worth $143,000 after buying an additional 4,564 shares during the period. Equitable Holdings Inc. grew its position in shares of SELLAS Life Sciences Group by 18.5% during the 4th quarter. Equitable Holdings Inc. now owns 32,060 shares of the company’s stock worth $121,000 after buying an additional 5,000 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of SELLAS Life Sciences Group by 31.5% in the 4th quarter. ProShare Advisors LLC now owns 22,638 shares of the company’s stock valued at $85,000 after acquiring an additional 5,417 shares in the last quarter. 17.38% of the stock is 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.