SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 6.3% – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price was down 6.3% during mid-day trading on Wednesday . The company traded as low as $11.89 and last traded at $12.0930. Approximately 1,204,865 shares were traded during trading, a decline of 86% from the average daily volume of 8,496,170 shares. The stock had previously closed at $12.90.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Friday. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Price Performance

The company has a market cap of $2.38 billion, a P/E ratio of -52.46 and a beta of 2.42. The company has a fifty day simple moving average of $10.07 and a 200-day simple moving average of $6.49.

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

Institutional Investors Weigh In On SELLAS Life Sciences Group

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in SELLAS Life Sciences Group in the 4th quarter worth about $26,000. BNP Paribas Financial Markets boosted its holdings in shares of SELLAS Life Sciences Group by 89.2% in the third quarter. BNP Paribas Financial Markets now owns 19,724 shares of the company’s stock worth $32,000 after buying an additional 9,299 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of SELLAS Life Sciences Group in the fourth quarter worth about $38,000. Beacon Pointe Advisors LLC purchased a new position in shares of SELLAS Life Sciences Group in the fourth quarter worth approximately $38,000. Finally, California State Teachers Retirement System increased its position 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 worth $39,000 after acquiring an additional 1,709 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.