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

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) gapped down prior to trading on Tuesday. The stock had previously closed at $10.49, but opened at $10.05. SELLAS Life Sciences Group shares last traded at $10.8220, with a volume of 573,523 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Thursday. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SELLAS Life Sciences Group currently has an average rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Stock Up 9.8%

The business’s fifty day moving average is $12.45 and its two-hundred day moving average is $9.98. The stock has a market capitalization of $2.33 billion, a PE ratio of -54.86 and a beta of 2.56.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01).

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of institutional investors and hedge funds have recently made changes to their positions in SLS. Bank of America Corp DE increased its holdings in shares of SELLAS Life Sciences Group by 535.7% in the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock worth $2,714,000 after buying an additional 540,748 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of SELLAS Life Sciences Group during the 2nd quarter valued at about $7,823,000. Dagco Inc. raised its position in shares of SELLAS Life Sciences Group by 78.1% during the 1st quarter. Dagco Inc. now owns 1,028,780 shares of the company’s stock valued at $4,352,000 after buying an additional 451,240 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of SELLAS Life Sciences Group by 73.2% in the 2nd quarter. Wellington Management Group LLP now owns 597,309 shares of the company’s stock valued at $8,816,000 after acquiring an additional 252,531 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of SELLAS Life Sciences Group in the 1st quarter valued at about $315,000. 17.38% of the stock is owned by hedge funds and other institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel cancer therapies. The company’s research and development programs are centered on treatments designed to stimulate or restore the immune system’s ability to recognize and attack cancer cells, as well as targeted therapies for hematologic malignancies.

SELLAS’ lead product candidate is galinpepimut-S (GPS), a multi-peptide immunotherapeutic targeting Wilms’ tumor 1 (WT1), a protein expressed in multiple types of cancer.