SELLAS Life Sciences Group (NASDAQ:SLS) Reaches New 52-Week High – Should You Buy?

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

Analysts Set New Price Targets

A number of brokerages have issued reports on SLS. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Tuesday, April 21st. Maxim Group raised their price target on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Trading Up 5.6%

The business has a 50 day simple moving average of $5.45 and a 200-day simple moving average of $4.09. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -39.42 and a beta of 2.24.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Axxcess Wealth Management LLC acquired a new position in shares of SELLAS Life Sciences Group in the 3rd quarter valued at about $26,000. Larson Financial Group LLC acquired a new position in shares of SELLAS Life Sciences Group in the 4th quarter valued at about $26,000. BNP Paribas Financial Markets lifted its stake in shares of SELLAS Life Sciences Group by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,724 shares of the company’s stock valued at $32,000 after purchasing an additional 9,299 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of SELLAS Life Sciences Group in the 4th quarter valued at about $38,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of SELLAS Life Sciences Group in the 4th quarter valued at about $38,000. 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.