SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – Time to Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $13.50, but opened at $14.30. SELLAS Life Sciences Group shares last traded at $14.2540, with a volume of 2,033,316 shares trading hands.

Wall Street Analysts Forecast Growth

SLS has been the topic of several recent analyst reports. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Monday. Maxim Group upped their price target on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Stock Performance

The stock has a market capitalization of $2.54 billion, a PE ratio of -56.78 and a beta of 2.42. The stock’s 50 day moving average is $8.48 and its two-hundred day moving average is $5.79.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLS. Dagco Inc. purchased a new stake in shares of SELLAS Life Sciences Group during the fourth quarter worth $2,177,000. Anson Funds Management LP boosted its position in SELLAS Life Sciences Group by 2,093.8% during the third quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock worth $9,713,000 after acquiring an additional 5,757,938 shares during the last quarter. Everhart Financial Group Inc. boosted its position in SELLAS Life Sciences Group by 40.8% during the fourth quarter. Everhart Financial Group Inc. now owns 466,216 shares of the company’s stock worth $1,758,000 after acquiring an additional 135,066 shares during the last quarter. World Investment Advisors purchased a new stake in SELLAS Life Sciences Group during the 4th quarter valued at about $166,000. Finally, Axxcess Wealth Management LLC grew its stake in SELLAS Life Sciences Group by 121.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 35,370 shares of the company’s stock valued at $133,000 after acquiring an additional 19,370 shares in the last quarter. Institutional investors and hedge funds own 17.38% of the company’s stock.

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.