SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 6.1% – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price fell 6.1% during trading on Thursday . The stock traded as low as $8.41 and last traded at $8.4270. 3,462,138 shares changed hands during trading, a decline of 55% from the average session volume of 7,707,157 shares. The stock had previously closed at $8.97.

Wall Street Analyst Weigh In

Several brokerages have commented on SLS. Maxim Group raised their price objective on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The firm has a 50-day moving average price of $5.28 and a 200-day moving average price of $3.94. The stock has a market cap of $1.45 billion, a PE ratio of -33.83 and a beta of 2.24.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

Large investors have recently modified their holdings of the stock. Dagco Inc. purchased a new position in shares of SELLAS Life Sciences Group in the 4th quarter worth about $2,177,000. Everhart Financial Group Inc. purchased a new position in shares of SELLAS Life Sciences Group in the 3rd quarter worth about $533,000. Anson Funds Management LP raised its position in shares of SELLAS Life Sciences Group by 2,093.8% in the 3rd quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock worth $9,713,000 after purchasing an additional 5,757,938 shares during the last quarter. EWA LLC purchased a new position in shares of SELLAS Life Sciences Group in the 4th quarter worth about $48,000. Finally, Grange Capital LLC raised its position in shares of SELLAS Life Sciences Group by 18.5% in the 4th quarter. Grange Capital LLC now owns 16,001 shares of the company’s stock worth $60,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 17.38% of the company’s stock.

SELLAS Life Sciences Group Company Profile

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.