SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 5.3% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price fell 5.3% during trading on Tuesday . The stock traded as low as $5.05 and last traded at $5.0750. 4,357,766 shares changed hands during trading, a decline of 48% from the average session volume of 8,316,062 shares. The stock had previously closed at $5.36.

Analysts Set New Price Targets

SLS has been the subject of a number of analyst reports. Maxim Group boosted their price target on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Price Performance

The business has a fifty day moving average price of $4.36 and a 200 day moving average price of $2.82. The company has a market capitalization of $728.58 million, a price-to-earnings ratio of -18.16 and a beta of 2.18.

Institutional Trading of SELLAS Life Sciences Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Anson Funds Management LP grew its holdings in SELLAS Life Sciences Group by 2,093.8% during the 3rd quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock worth $9,713,000 after acquiring an additional 5,757,938 shares during the period. Marshall Wace LLP lifted its holdings in shares of SELLAS Life Sciences Group by 23,550.0% during the 2nd quarter. Marshall Wace LLP now owns 2,715,489 shares of the company’s stock valued at $5,947,000 after purchasing an additional 2,704,007 shares in the last quarter. Geode Capital Management LLC grew its position in shares of SELLAS Life Sciences Group by 168.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock valued at $4,819,000 after purchasing an additional 1,379,988 shares during the period. Millennium Management LLC increased its stake in SELLAS Life Sciences Group by 341.0% during the 4th quarter. Millennium Management LLC now owns 1,387,849 shares of the company’s stock worth $5,232,000 after purchasing an additional 1,073,147 shares in the last quarter. Finally, State Street Corp raised its holdings in SELLAS Life Sciences Group by 60.8% during the 4th quarter. State Street Corp now owns 2,188,171 shares of the company’s stock worth $8,249,000 after buying an additional 827,257 shares during the period. Institutional investors and hedge funds 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.