SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 8.4% – Should You Sell?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) dropped 8.4% during mid-day trading on Tuesday . The company traded as low as $4.54 and last traded at $4.5810. Approximately 4,668,402 shares were traded during trading, a decline of 74% from the average daily volume of 18,296,564 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SELLAS Life Sciences Group has an average rating of “Hold” and an average target price of $7.00.

SELLAS Life Sciences Group Stock Down 20.5%

The company’s fifty day moving average price is $2.10 and its two-hundred day moving average price is $1.92. The company has a market cap of $566.21 million, a price-to-earnings ratio of -14.20 and a beta of 2.26.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. On average, equities research analysts predict that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at SELLAS Life Sciences Group

In other SELLAS Life Sciences Group news, Director Katherine Bach Kalin acquired 63,400 shares of the stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $1.59 per share, for a total transaction of $100,806.00. Following the completion of the acquisition, the director directly owned 104,400 shares of the company’s stock, valued at approximately $165,996. This trade represents a 154.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in SELLAS Life Sciences Group by 21.9% during the 3rd quarter. Bank of America Corp DE now owns 42,150 shares of the company’s stock worth $68,000 after buying an additional 7,571 shares in the last quarter. Anson Funds Management LP increased its position in shares of SELLAS Life Sciences Group by 2,093.8% in the third quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock valued at $9,713,000 after acquiring an additional 5,757,938 shares during the last quarter. Equitable Holdings Inc. raised its holdings in SELLAS Life Sciences Group by 58.6% during the third quarter. Equitable Holdings Inc. now owns 27,060 shares of the company’s stock worth $44,000 after acquiring an additional 10,000 shares in the last quarter. Squarepoint Ops LLC grew its stake in SELLAS Life Sciences Group by 186.4% in the third quarter. Squarepoint Ops LLC now owns 46,180 shares of the company’s stock valued at $74,000 after purchasing an additional 30,058 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of SELLAS Life Sciences Group during the 3rd quarter worth approximately $43,000. Institutional investors 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.