SELLAS Life Sciences Group (NASDAQ:SLS) Trading 9.6% Higher – Time to Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares were up 9.6% during mid-day trading on Thursday . The stock traded as high as $8.94 and last traded at $8.9750. Approximately 3,523,877 shares were traded during trading, a decline of 57% from the average daily volume of 8,140,919 shares. The stock had previously closed at $8.19.

Analyst Ratings Changes

SLS has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Tuesday, April 21st. Maxim Group increased their price objective on shares of SELLAS Life Sciences Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Stock Performance

The company has a fifty day moving average of $5.82 and a two-hundred day moving average of $4.35. The company has a market cap of $1.70 billion, a PE ratio of -39.98 and a beta of 2.50.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01.

Institutional Trading of SELLAS Life Sciences Group

Several hedge funds and other institutional investors have recently bought and sold shares of SLS. Larson Financial Group LLC bought a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at approximately $26,000. California State Teachers Retirement System grew its stake 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. Beacon Pointe Advisors LLC bought a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at approximately $38,000. Concurrent Investment Advisors LLC bought a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at approximately $38,000. Finally, Money Concepts Capital Corp bought a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at approximately $40,000. Hedge funds and other 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.