SELLAS Life Sciences Group (NASDAQ:SLS) Trading Up 12.4% – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shot up 12.4% on Monday . The company traded as high as $11.15 and last traded at $11.2520. 4,462,403 shares were traded during trading, a decline of 47% from the average session volume of 8,411,522 shares. The stock had previously closed at $10.01.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLS. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SELLAS Life Sciences Group has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Stock Performance

The business has a 50 day moving average price of $10.60 and a two-hundred day moving average price of $6.88. The company has a market cap of $2.21 billion, a P/E ratio of -48.73 and a beta of 2.42.

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

Institutional Trading of SELLAS Life Sciences Group

A number of institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new stake in SELLAS Life Sciences Group during the 1st quarter valued at $253,000. Dagco Inc. boosted its position in SELLAS Life Sciences Group by 78.1% during the 1st quarter. Dagco Inc. now owns 1,028,780 shares of the company’s stock valued at $4,352,000 after buying an additional 451,240 shares during the period. World Investment Advisors bought a new stake in SELLAS Life Sciences Group in the 4th quarter worth $166,000. Caitong International Asset Management Co. Ltd grew its holdings in SELLAS Life Sciences Group by 408.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 55,129 shares of the company’s stock worth $208,000 after acquiring an additional 44,296 shares during the last quarter. Finally, Financial Designs Corp purchased a new position in shares of SELLAS Life Sciences Group in the first quarter valued at about $99,000. 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 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.