SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Down – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares gapped down before the market opened on Tuesday. The stock had previously closed at $10.49, but opened at $10.05. SELLAS Life Sciences Group shares last traded at $10.8220, with a volume of 573,523 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Thursday, October 15th. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Price Performance

The stock’s 50-day moving average price is $12.47 and its 200 day moving average price is $10.09. The firm has a market capitalization of $2.45 billion, a PE ratio of -57.81 and a beta of 2.56.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01).

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several hedge funds have recently made changes to their positions in SLS. Bank of New York Mellon Corp increased its stake in shares of SELLAS Life Sciences Group by 86.6% during the first quarter. Bank of New York Mellon Corp now owns 478,366 shares of the company’s stock valued at $2,023,000 after buying an additional 221,957 shares during the period. Bank of America Corp DE raised its holdings in shares of SELLAS Life Sciences Group by 535.7% in the first quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock valued at $2,714,000 after acquiring an additional 540,748 shares in the last quarter. Dagco Inc. raised its holdings in shares of SELLAS Life Sciences Group by 19.8% in the second quarter. Dagco Inc. now owns 1,232,433 shares of the company’s stock valued at $18,191,000 after acquiring an additional 203,653 shares in the last quarter. Wellington Management Group LLP lifted its stake in SELLAS Life Sciences Group by 73.2% in the second quarter. Wellington Management Group LLP now owns 597,309 shares of the company’s stock worth $8,816,000 after acquiring an additional 252,531 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in SELLAS Life Sciences Group in the first quarter worth about $315,000. 17.38% of the stock is currently owned by hedge funds and other institutional investors.

About SELLAS Life Sciences Group

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel cancer therapies. The company’s research and development programs are centered on treatments designed to stimulate or restore the immune system’s ability to recognize and attack cancer cells, as well as targeted therapies for hematologic malignancies.

SELLAS’ lead product candidate is galinpepimut-S (GPS), a multi-peptide immunotherapeutic targeting Wilms’ tumor 1 (WT1), a protein expressed in multiple types of cancer.