SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – Should You Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $11.05, but opened at $11.92. SELLAS Life Sciences Group shares last traded at $11.7370, with a volume of 1,562,683 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently commented on SLS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Alliance Global Partners reiterated a “buy” rating on shares of SELLAS Life Sciences Group in a report on Wednesday. Two investment analysts have 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, the stock has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Up 5.0%

The stock has a market capitalization of $2.50 billion, a P/E ratio of -58.85 and a beta of 2.48. The business’s 50 day simple moving average is $11.15 and its two-hundred day simple moving average is $7.35.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01).

Institutional Trading of SELLAS Life Sciences Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of SELLAS Life Sciences Group by 2.8% in the third quarter. Vanguard Group Inc. now owns 6,839,905 shares of the company’s stock valued at $11,012,000 after purchasing an additional 185,106 shares in the last quarter. Geode Capital Management LLC grew its holdings in SELLAS Life Sciences Group by 35.9% during the fourth quarter. Geode Capital Management LLC now owns 3,077,337 shares of the company’s stock worth $11,604,000 after buying an additional 812,953 shares in the last quarter. Marshall Wace LLP grew its holdings 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 worth $5,947,000 after buying an additional 2,704,007 shares in the last quarter. State Street Corp raised its position in SELLAS Life Sciences Group by 60.8% in the 4th quarter. State Street Corp now owns 2,188,171 shares of the company’s stock valued at $8,249,000 after buying an additional 827,257 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in SELLAS Life Sciences Group by 341.0% during the 4th quarter. Millennium Management LLC now owns 1,387,849 shares of the company’s stock valued at $5,232,000 after acquiring an additional 1,073,147 shares in the last quarter. 17.38% of the stock is 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 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.