SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 8.2% – Should You Sell?

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) traded down 8.2% during trading on Thursday. The stock traded as low as $11.51 and last traded at $11.2960. Approximately 2,914,079 shares were traded during trading, a decline of 64% from the average daily volume of 8,026,477 shares. The stock had previously closed at $12.31.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SLS shares. Alliance Global Partners reiterated a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Two 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 currently has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The business has a 50 day moving average of $12.36 and a two-hundred day moving average of $9.44. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -55.90 and a beta of 2.56.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings data 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

Several large investors have recently added to or reduced their stakes in the business. Nykredit A S bought a new stake in SELLAS Life Sciences Group during the 2nd quarter worth approximately $27,000. California State Teachers Retirement System boosted its position in shares of SELLAS Life Sciences Group by 22.4% during the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock valued at $39,000 after buying an additional 1,709 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of SELLAS Life Sciences Group during the first quarter valued at approximately $48,000. Principal Financial Group Inc. bought a new stake in SELLAS Life Sciences Group during the first quarter worth $53,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in SELLAS Life Sciences Group by 82.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,777 shares of the company’s stock worth $75,000 after buying an additional 8,944 shares in the last quarter. 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 developing novel cancer therapies, particularly immunotherapies and targeted treatments for patients with difficult-to-treat malignancies. The company’s research and development programs are designed to address cancers with significant unmet medical needs.

SELLAS’s lead immunotherapy candidate, galinpepimut-S (GPS), is a multi-peptide vaccine intended to stimulate the immune system against Wilms’ tumor 1 (WT1), a protein expressed in several types of cancer.