SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 6.5% – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price was down 6.5% during trading on Thursday . The stock traded as low as $11.85 and last traded at $11.96. Approximately 1,390,343 shares changed hands during trading, a decline of 84% from the average session volume of 8,506,925 shares. The stock had previously closed at $12.79.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The firm has a market cap of $2.29 billion, a PE ratio of -50.72 and a beta of 2.42. The company’s 50-day simple moving average is $9.47 and its two-hundred day simple moving average is $6.23.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC bought a new position in SELLAS Life Sciences Group in the fourth quarter worth $26,000. BNP Paribas Financial Markets lifted its position in SELLAS Life Sciences Group by 89.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,724 shares of the company’s stock valued at $32,000 after acquiring an additional 9,299 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in SELLAS Life Sciences Group in the fourth quarter worth about $38,000. Beacon Pointe Advisors LLC bought a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at approximately $38,000. Finally, California State Teachers Retirement System boosted its holdings in SELLAS Life Sciences Group by 22.4% in the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock worth $39,000 after acquiring an additional 1,709 shares in the last quarter. 17.38% of the stock is currently owned by institutional investors.

SELLAS Life Sciences Group Company Profile

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.