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

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $12.39, but opened at $13.33. SELLAS Life Sciences Group shares last traded at $13.7840, with a volume of 5,370,872 shares changing hands.

Analyst Ratings Changes

SLS has been the topic of several recent analyst reports. Maxim Group lifted their target price on shares of SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SELLAS Life Sciences Group currently has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The company has a 50-day simple moving average of $7.14 and a 200 day simple moving average of $5.18. The company has a market capitalization of $2.78 billion, a P/E ratio of -61.30 and a beta of 2.50.

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

Institutional Trading of SELLAS Life Sciences Group

A number of hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in SELLAS Life Sciences Group in the 4th quarter worth $26,000. BNP Paribas Financial Markets raised its position in shares of SELLAS Life Sciences Group by 89.2% during the third quarter. BNP Paribas Financial Markets now owns 19,724 shares of the company’s stock valued at $32,000 after buying an additional 9,299 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of SELLAS Life Sciences Group in the fourth quarter valued at about $38,000. Beacon Pointe Advisors LLC bought a new stake in shares of SELLAS Life Sciences Group in the fourth quarter valued at about $38,000. Finally, California State Teachers Retirement System grew its position in SELLAS Life Sciences Group by 22.4% during the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock worth $39,000 after buying an additional 1,709 shares in the last quarter. 17.38% of the stock is owned by institutional investors.

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.