SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 6.3% – Here’s What Happened

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) dropped 6.3% during mid-day trading on Wednesday . The company traded as low as $11.89 and last traded at $12.0930. 1,204,865 shares were traded during trading, a decline of 86% from the average daily volume of 8,496,170 shares. The stock had previously closed at $12.90.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Alliance Global Partners reiterated a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Trading Up 2.2%

The company has a market cap of $2.43 billion, a price-to-earnings ratio of -53.65 and a beta of 2.42. The stock’s fifty day simple moving average is $10.27 and its 200 day simple moving average is $6.61.

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

Institutional Trading of SELLAS Life Sciences Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in shares of SELLAS Life Sciences Group during the 4th quarter worth $26,000. California State Teachers Retirement System boosted its position in shares of SELLAS Life Sciences Group by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock valued at $39,000 after acquiring an additional 1,709 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of SELLAS Life Sciences Group in the fourth quarter valued at about $38,000. Concurrent Investment Advisors LLC acquired a new stake in SELLAS Life Sciences Group during the fourth quarter worth about $38,000. Finally, Money Concepts Capital Corp acquired a new stake in SELLAS Life Sciences Group during the fourth quarter worth about $40,000. 17.38% of the stock is owned by institutional investors and hedge funds.

SELLAS Life Sciences Group Company Profile

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.