SELLAS Life Sciences Group (NASDAQ:SLS) Trading 8.8% Higher – Time to Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) traded up 8.8% during mid-day trading on Friday . The stock traded as high as $8.09 and last traded at $8.2290. 2,532,904 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 7,875,479 shares. The stock had previously closed at $7.56.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Maxim Group upped their price target on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Tuesday, April 21st. One 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The firm’s 50 day simple moving average is $5.28 and its 200-day simple moving average is $3.94. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -33.83 and a beta of 2.24.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in shares of SELLAS Life Sciences Group during the 4th quarter valued at $26,000. California State Teachers Retirement System grew its holdings in shares of SELLAS Life Sciences Group by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock valued at $39,000 after acquiring an additional 1,709 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new position in shares of SELLAS Life Sciences Group during the 4th quarter valued at $38,000. Concurrent Investment Advisors LLC purchased a new position in shares of SELLAS Life Sciences Group during the 4th quarter valued at $38,000. Finally, Money Concepts Capital Corp purchased a new position in shares of SELLAS Life Sciences Group during the 4th quarter valued at $40,000. 17.38% of the stock is currently 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.