SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 8.4% – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price dropped 8.4% on Monday . The company traded as low as $14.17 and last traded at $14.1580. Approximately 2,469,527 shares traded hands during trading, a decline of 70% from the average session volume of 8,216,982 shares. The stock had previously closed at $15.46.

Wall Street Analysts Forecast Growth

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

SELLAS Life Sciences Group Price Performance

The stock’s fifty day moving average is $11.85 and its 200-day moving average is $7.75. The stock has a market capitalization of $2.90 billion, a PE ratio of -68.39 and a beta of 2.48.

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

Institutional Trading of SELLAS Life Sciences Group

Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in SELLAS Life Sciences Group by 31,891.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,987,040 shares of the company’s stock worth $44,089,000 after purchasing an additional 2,977,703 shares during the last quarter. Nykredit A S bought a new stake in shares of SELLAS Life Sciences Group during the second quarter worth $27,000. Wellington Management Group LLP lifted its holdings in SELLAS Life Sciences Group by 73.2% during the 2nd quarter. Wellington Management Group LLP now owns 597,309 shares of the company’s stock worth $8,816,000 after buying an additional 252,531 shares during the period. Bank of New York Mellon Corp acquired a new stake in SELLAS Life Sciences Group in the second quarter worth $7,823,000. Finally, Dagco Inc. boosted its position in shares of SELLAS Life Sciences Group by 19.8% during the second quarter. Dagco Inc. now owns 1,232,433 shares of the company’s stock valued at $18,191,000 after buying an additional 203,653 shares during 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 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.