SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Down – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) gapped down prior to trading on Thursday . The stock had previously closed at $11.66, but opened at $11.31. SELLAS Life Sciences Group shares last traded at $11.4120, with a volume of 916,056 shares.

Wall Street Analyst Weigh In

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

SELLAS Life Sciences Group Price Performance

The company has a market cap of $2.31 billion, a P/E ratio of -54.53 and a beta of 2.52. The stock’s 50-day moving average price is $12.58 and its 200-day moving average price is $8.94.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly 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).

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in shares of SELLAS Life Sciences Group by 43.1% in the 2nd quarter. Tidal Investments LLC now owns 128,761 shares of the company’s stock worth $1,901,000 after purchasing an additional 38,754 shares during the period. Arizona State Retirement System acquired a new stake in SELLAS Life Sciences Group during the 2nd quarter worth about $731,000. Nykredit A S bought a new position in shares of SELLAS Life Sciences Group in the 2nd quarter worth about $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in SELLAS Life Sciences Group in the second quarter worth approximately $257,000. Finally, Wellington Management Group LLP lifted its stake in SELLAS Life Sciences Group by 73.2% in the second quarter. Wellington Management Group LLP now owns 597,309 shares of the company’s stock valued at $8,816,000 after buying an additional 252,531 shares during the period. 17.38% of the stock is owned by institutional investors and hedge funds.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for cancer. The company’s research programs are aimed at treating hematologic malignancies and solid tumors through immunotherapy and targeted drug development.

SELLAS’s lead immunotherapy candidate is galinpepimut-S, or GPS, an investigational peptide vaccine designed to stimulate an immune response against Wilms’ tumor 1 (WT1), a protein associated with several cancers.