SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Up 7.4% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) rose 7.4% during trading on Monday. The company traded as high as $10.65 and last traded at $10.7150. 2,659,286 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 7,872,056 shares. The stock had previously closed at $9.98.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLS. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Up 7.8%

The firm has a market capitalization of $2.17 billion, a P/E ratio of -51.21 and a beta of 2.56. The firm has a 50 day moving average of $12.46 and a 200-day moving average of $9.93.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLS. Nykredit A S acquired a new stake in SELLAS Life Sciences Group during the second quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of SELLAS Life Sciences Group by 293.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,186 shares of the company’s stock valued at $27,000 after buying an additional 1,630 shares in the last quarter. California State Teachers Retirement System raised its position in shares of SELLAS Life Sciences Group by 22.4% in the 1st 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 in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of SELLAS Life Sciences Group during the 1st quarter worth approximately $48,000. Finally, Principal Financial Group Inc. bought a new stake in shares of SELLAS Life Sciences Group during the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 17.38% of the company’s stock.

SELLAS Life Sciences Group Company Profile

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.