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

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares 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 traded.

Analyst Ratings Changes

Several research analysts have recently commented on SLS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday, October 15th. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The stock’s 50-day simple moving average is $11.15 and its 200 day simple moving average is $8.75. The company has a market capitalization of $1.67 billion, a PE ratio of -39.33 and a beta of 2.73.

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

Institutional Trading of SELLAS Life Sciences Group

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew 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 worth $27,000 after buying an additional 1,630 shares during the last quarter. California State Teachers Retirement System increased its position 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 buying an additional 1,709 shares during the period. Nykredit A S acquired a new position in SELLAS Life Sciences Group during the second quarter worth approximately $27,000. Pictet Asset Management Holding SA increased its position in SELLAS Life Sciences Group by 15.4% during the third quarter. Pictet Asset Management Holding SA now owns 27,688 shares of the company’s stock worth $341,000 after buying an additional 3,704 shares during the period. Finally, Private Advisor Group LLC lifted its stake in SELLAS Life Sciences Group by 36.0% in the third quarter. Private Advisor Group LLC now owns 21,278 shares of the company’s stock valued at $262,000 after buying an additional 5,628 shares during the last quarter. 17.38% of the stock is owned by institutional investors and hedge funds.

SELLAS Life Sciences Group Company Profile

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.