SELLAS Life Sciences Group (NASDAQ:SLS) Shares Up 9.8% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares were up 9.8% during mid-day trading on Thursday . The company traded as high as $4.18 and last traded at $4.1630. Approximately 4,680,574 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 8,743,400 shares. The stock had previously closed at $3.79.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

SELLAS Life Sciences Group Stock Performance

The stock has a market capitalization of $588.70 million, a PE ratio of -14.71 and a beta of 2.27. The business’s 50-day moving average price is $3.58 and its 200 day moving average price is $2.38.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Large investors have recently added to or reduced their stakes in the company. Grange Capital LLC raised its holdings in shares of SELLAS Life Sciences Group by 18.5% during the 4th quarter. Grange Capital LLC now owns 16,001 shares of the company’s stock valued at $60,000 after buying an additional 2,500 shares in the last quarter. Invesco Ltd. raised its stake in shares of SELLAS Life Sciences Group by 6.2% during the fourth quarter. Invesco Ltd. now owns 53,293 shares of the company’s stock worth $201,000 after acquiring an additional 3,114 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of SELLAS Life Sciences Group by 13.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 38,018 shares of the company’s stock worth $143,000 after acquiring an additional 4,564 shares during the last quarter. Equitable Holdings Inc. boosted its stake in shares of SELLAS Life Sciences Group by 18.5% in the 4th quarter. Equitable Holdings Inc. now owns 32,060 shares of the company’s stock valued at $121,000 after purchasing an additional 5,000 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of SELLAS Life Sciences Group by 31.5% during the 4th quarter. ProShare Advisors LLC now owns 22,638 shares of the company’s stock valued at $85,000 after purchasing an additional 5,417 shares during the last quarter. Hedge funds and other 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.