SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – Still a Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares gapped up prior to trading on Monday . The stock had previously closed at $4.46, but opened at $4.74. SELLAS Life Sciences Group shares last traded at $4.9330, with a volume of 2,067,305 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SLS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Maxim Group raised their target price on shares of SELLAS Life Sciences Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Price Performance

The company has a market cap of $904.20 million, a PE ratio of -19.60 and a beta of 2.22. The company’s 50 day simple moving average is $4.81 and its two-hundred day simple moving average is $3.43.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its earnings results on Thursday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01.

Institutional Trading of SELLAS Life Sciences Group

Several hedge funds have recently made changes to their positions in SLS. Geode Capital Management LLC lifted its position in shares of SELLAS Life Sciences Group by 168.2% during the second quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock worth $4,819,000 after purchasing an additional 1,379,988 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of SELLAS Life Sciences Group during the second quarter worth about $136,000. Rhumbline Advisers acquired a new stake in shares of SELLAS Life Sciences Group during the second quarter worth about $297,000. XTX Topco Ltd acquired a new stake in shares of SELLAS Life Sciences Group during the second quarter worth about $168,000. Finally, New York State Common Retirement Fund acquired a new stake in SELLAS Life Sciences Group in the second quarter valued at approximately $108,000. 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.