SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 8.2% – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares dropped 8.2% during mid-day trading on Thursday. The stock traded as low as $11.51 and last traded at $11.2960. 2,914,079 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 8,026,477 shares. The stock had previously closed at $12.31.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SLS shares. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Stock Down 7.8%

The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -53.90 and a beta of 2.52. The business’s fifty day moving average is $12.37 and its 200 day moving average is $9.38.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly 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 Investors Weigh In On SELLAS Life Sciences Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nykredit A S bought a new stake in SELLAS Life Sciences Group in the 2nd quarter valued at about $27,000. California State Teachers Retirement System raised its stake in shares of SELLAS Life Sciences Group by 22.4% in the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock valued at $39,000 after buying an additional 1,709 shares during the period. Wealthfront Advisers LLC bought a new stake in SELLAS Life Sciences Group during the 1st quarter valued at $48,000. Principal Financial Group Inc. bought a new position in shares of SELLAS Life Sciences Group in the first quarter valued at approximately $53,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of SELLAS Life Sciences Group by 82.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,777 shares of the company’s stock worth $75,000 after buying an additional 8,944 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 developing novel cancer therapies, particularly immunotherapies and targeted treatments for patients with difficult-to-treat malignancies. The company’s research and development programs are designed to address cancers with significant unmet medical needs.

SELLAS’s lead immunotherapy candidate, galinpepimut-S (GPS), is a multi-peptide vaccine intended to stimulate the immune system against Wilms’ tumor 1 (WT1), a protein expressed in several types of cancer.