SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 4.8% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price traded down 4.8% on Friday . The stock traded as low as $12.99 and last traded at $12.8440. Approximately 1,915,600 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 8,117,275 shares. The stock had previously closed at $13.49.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLS. 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 reissued a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SELLAS Life Sciences Group presently has a consensus rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Price Performance

The company has a market capitalization of $2.54 billion, a P/E ratio of -60.13 and a beta of 2.52. The company’s 50-day moving average price is $12.78 and its two-hundred day moving average price is $8.75.

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

Institutional Investors Weigh In On SELLAS Life Sciences Group

A number of institutional investors have recently made changes to their positions in SLS. Tidal Investments LLC grew its position in shares of SELLAS Life Sciences Group by 43.1% in the second quarter. Tidal Investments LLC now owns 128,761 shares of the company’s stock valued at $1,901,000 after purchasing an additional 38,754 shares during the last quarter. Arizona State Retirement System bought a new stake in SELLAS Life Sciences Group in the 2nd quarter valued at $731,000. Nykredit A S acquired a new position in SELLAS Life Sciences Group in the 2nd quarter valued at $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in SELLAS Life Sciences Group in the 2nd quarter valued at $257,000. Finally, California State Teachers Retirement System increased its position in SELLAS Life Sciences Group by 31,891.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,987,040 shares of the company’s stock worth $44,089,000 after buying an additional 2,977,703 shares during the period. Institutional investors 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.