SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 15.4% – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price fell 15.4% on Wednesday. The stock traded as low as $10.51 and last traded at $10.2990. Approximately 3,980,290 shares were traded during mid-day trading, a decline of 49% from the average session volume of 7,797,942 shares. The stock had previously closed at $12.17.

Wall Street Analyst Weigh In

Several brokerages have commented on SLS. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday, October 15th. Alliance Global Partners reaffirmed 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Trading Down 2.2%

The firm has a 50-day simple moving average of $12.23 and a two-hundred day simple moving average of $8.54. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -48.33 and a beta of 2.56.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted 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

Hedge funds have recently bought and sold shares of the stock. Dagco Inc. grew its stake in shares of SELLAS Life Sciences Group by 19.8% during the 2nd quarter. Dagco Inc. now owns 1,232,433 shares of the company’s stock worth $18,191,000 after purchasing an additional 203,653 shares during the period. Wellington Management Group LLP lifted its stake 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 purchasing an additional 252,531 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of SELLAS Life Sciences Group in the 2nd quarter valued at $7,823,000. Bank of America Corp DE boosted its holdings in SELLAS Life Sciences Group by 535.7% during the first 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 in the last quarter. Finally, Tidal Investments LLC boosted its holdings in SELLAS Life Sciences Group by 43.1% during the second quarter. Tidal Investments LLC now owns 128,761 shares of the company’s stock worth $1,901,000 after buying an additional 38,754 shares in the last quarter. Hedge funds and other institutional investors own 17.38% of the company’s stock.

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.