SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Up 10.9% – Time to Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price rose 10.9% on Thursday . The company traded as high as $14.15 and last traded at $14.7180. 1,578,180 shares traded hands during trading, a decline of 81% from the average daily volume of 8,470,932 shares. The stock had previously closed at $13.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented 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 report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Trading Up 6.5%

The company has a market capitalization of $2.78 billion, a PE ratio of -61.41 and a beta of 2.41. The company’s 50 day moving average price is $7.71 and its 200-day moving average price is $5.44.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several hedge funds and other institutional investors have recently modified their holdings of SLS. Anson Funds Management LP increased 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 worth $9,713,000 after purchasing an additional 5,757,938 shares in the last quarter. Marshall Wace LLP lifted its position in SELLAS Life Sciences Group by 23,550.0% during the second quarter. Marshall Wace LLP now owns 2,715,489 shares of the company’s stock valued at $5,947,000 after buying an additional 2,704,007 shares in the last quarter. Geode Capital Management LLC grew its stake in SELLAS Life Sciences Group by 168.2% during the second quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock worth $4,819,000 after buying an additional 1,379,988 shares during the period. Millennium Management LLC grew its stake in SELLAS Life Sciences Group by 341.0% during the fourth quarter. Millennium Management LLC now owns 1,387,849 shares of the company’s stock worth $5,232,000 after buying an additional 1,073,147 shares during the period. Finally, State Street Corp increased its position in shares of SELLAS Life Sciences Group by 60.8% in the fourth quarter. State Street Corp now owns 2,188,171 shares of the company’s stock worth $8,249,000 after acquiring an additional 827,257 shares in the last quarter. 17.38% of the stock is owned by institutional investors and hedge funds.

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.