SELLAS Life Sciences Group (NASDAQ:SLS) Sets New 52-Week High – Still a Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.11 and last traded at $9.0450, with a volume of 2398218 shares trading hands. The stock had previously closed at $8.58.

Analysts Set New Price Targets

Several research firms recently issued reports on SLS. Maxim Group lifted their price objective 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. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Stock Up 1.4%

The stock has a market cap of $1.73 billion, a P/E ratio of -40.48 and a beta of 2.24. The firm’s fifty day moving average price is $5.62 and its 200-day moving average price is $4.18.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Anson Funds Management LP raised its position in SELLAS Life Sciences Group by 2,093.8% during the 3rd quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock valued at $9,713,000 after purchasing an additional 5,757,938 shares during the last quarter. Marshall Wace LLP raised its position in SELLAS Life Sciences Group by 23,550.0% during the 2nd quarter. Marshall Wace LLP now owns 2,715,489 shares of the company’s stock valued at $5,947,000 after purchasing an additional 2,704,007 shares during the last quarter. Geode Capital Management LLC raised its position in SELLAS Life Sciences Group by 168.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock valued at $4,819,000 after purchasing an additional 1,379,988 shares during the last quarter. Millennium Management LLC raised its position in SELLAS Life Sciences Group by 341.0% during the 4th quarter. Millennium Management LLC now owns 1,387,849 shares of the company’s stock valued at $5,232,000 after purchasing an additional 1,073,147 shares during the last quarter. Finally, State Street Corp raised its position in SELLAS Life Sciences Group by 60.8% during the 4th quarter. State Street Corp now owns 2,188,171 shares of the company’s stock valued at $8,249,000 after purchasing an additional 827,257 shares during the last quarter. 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.