SELLAS Life Sciences Group (NASDAQ:SLS) Posts Earnings Results, Beats Expectations By $0.01 EPS

SELLAS Life Sciences Group (NASDAQ:SLS) posted its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01, FiscalAI reports.

SELLAS Life Sciences Group Stock Performance

NASDAQ:SLS traded up $0.25 during mid-day trading on Thursday, reaching $5.20. The stock had a trading volume of 5,809,359 shares, compared to its average volume of 7,386,729. The firm has a 50 day moving average price of $4.39 and a two-hundred day moving average price of $2.85. SELLAS Life Sciences Group has a one year low of $0.95 and a one year high of $6.14.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday, January 22nd. Maxim Group boosted their price target 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 equities research analyst has rated the stock with a Buy rating and one has given 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.

Institutional Trading of SELLAS Life Sciences Group

Several institutional investors have recently added to or reduced their stakes in SLS. Invesco Ltd. lifted its position in SELLAS Life Sciences Group by 6.2% in the fourth quarter. Invesco Ltd. now owns 53,293 shares of the company’s stock valued at $201,000 after purchasing an additional 3,114 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in shares of SELLAS Life Sciences Group by 121.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 35,370 shares of the company’s stock worth $133,000 after buying an additional 19,370 shares during the period. Beacon Pointe Advisors LLC purchased a new position in shares of SELLAS Life Sciences Group in the fourth quarter valued at about $38,000. XTX Topco Ltd purchased a new stake in shares of SELLAS Life Sciences Group during the fourth quarter worth about $447,000. Finally, Millennium Management LLC grew its stake in shares of SELLAS Life Sciences Group by 341.0% in the fourth 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 during the last quarter. 17.38% of the stock is currently owned by hedge funds and other institutional investors.

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.