SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price gapped up before the market opened on Friday. The stock had previously closed at $8.03, but opened at $8.69. SELLAS Life Sciences Group shares last traded at $8.4920, with a volume of 1,994,249 shares trading hands.

Analyst Ratings Changes

SLS has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Thursday, October 15th. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Price Performance

The stock’s 50-day moving average price is $11.03 and its 200 day moving average price is $8.77. The firm has a market capitalization of $1.59 billion, a PE ratio of -39.30 and a beta of 2.73.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05).

Institutional Trading of SELLAS Life Sciences Group

A number of institutional investors have recently bought and sold shares of SLS. Nykredit A S purchased a new position in SELLAS Life Sciences Group in the 2nd quarter worth $27,000. GAMMA Investing LLC lifted its stake in SELLAS Life Sciences Group by 293.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,186 shares of the company’s stock valued at $27,000 after acquiring an additional 1,630 shares during the period. Sterling Capital Management LLC increased its stake in shares of SELLAS Life Sciences Group by 900.8% in the third quarter. Sterling Capital Management LLC now owns 6,635 shares of the company’s stock worth $82,000 after acquiring an additional 5,972 shares during the period. City State Bank acquired a new stake in SELLAS Life Sciences Group during the 3rd quarter worth about $100,000. Finally, California State Teachers Retirement System grew its holdings in 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 worth $39,000 after acquiring an additional 1,709 shares during the period. 17.38% of the stock is currently owned by institutional investors and hedge funds.

About SELLAS Life Sciences Group

SELLAS Life Sciences Group is a clinical-stage biopharmaceutical company focused on developing treatments for cancer. Its research centers on immunotherapies and other therapies intended to address hematologic malignancies and solid tumors. The company does not have an established portfolio of marketed products; its work is focused on clinical development. Its pipeline includes galinpepimut-S (GPS), an immunotherapy designed to target the Wilms’ tumor 1 (WT1) protein, which is found in several types of cancer.