SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 6.2% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price traded down 6.2% during trading on Wednesday . The stock traded as low as $5.44 and last traded at $5.4580. 4,133,323 shares changed hands during trading, a decline of 51% from the average session volume of 8,485,182 shares. The stock had previously closed at $5.82.

Analysts Set New Price Targets

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

SELLAS Life Sciences Group Trading Up 6.8%

The business has a 50-day moving average of $4.33 and a 200 day moving average of $2.76. The firm has a market capitalization of $764.90 million, a PE ratio of -19.18 and a beta of 2.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Grange Capital LLC grew its position in SELLAS Life Sciences Group by 18.5% in the 4th quarter. Grange Capital LLC now owns 16,001 shares of the company’s stock worth $60,000 after purchasing an additional 2,500 shares in the last quarter. Invesco Ltd. boosted its stake in shares of SELLAS Life Sciences Group by 6.2% in the 4th quarter. Invesco Ltd. now owns 53,293 shares of the company’s stock worth $201,000 after buying an additional 3,114 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of SELLAS Life Sciences Group by 13.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 38,018 shares of the company’s stock valued at $143,000 after acquiring an additional 4,564 shares in the last quarter. Equitable Holdings Inc. grew its holdings in shares of SELLAS Life Sciences Group by 18.5% in the fourth quarter. Equitable Holdings Inc. now owns 32,060 shares of the company’s stock valued at $121,000 after acquiring an additional 5,000 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of SELLAS Life Sciences Group by 31.5% during the fourth quarter. ProShare Advisors LLC now owns 22,638 shares of the company’s stock valued at $85,000 after acquiring an additional 5,417 shares during the last quarter. 17.38% of the stock is owned by 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.