SELLAS Life Sciences Group (NASDAQ:SLS) Trading 10.9% Higher – Time to Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price was up 10.9% on Thursday . The company traded as high as $14.15 and last traded at $14.7180. 1,578,180 shares traded hands during trading, a decline of 81% from the average daily volume of 8,470,932 shares. The stock had previously closed at $13.27.

Analyst Upgrades and Downgrades

Several research firms have commented on SLS. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Maxim Group upped their target price on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. One research analyst has 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 presently has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Price Performance

The business’s 50-day moving average price is $7.71 and its 200 day moving average price is $5.44. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -61.41 and a beta of 2.41.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its 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.

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in shares of SELLAS Life Sciences Group during the fourth quarter valued at about $26,000. BNP Paribas Financial Markets boosted its holdings in SELLAS Life Sciences Group by 89.2% in the third quarter. BNP Paribas Financial Markets now owns 19,724 shares of the company’s stock valued at $32,000 after purchasing an additional 9,299 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in SELLAS Life Sciences Group in the fourth quarter valued at about $38,000. Beacon Pointe Advisors LLC acquired a new stake in SELLAS Life Sciences Group during the 4th quarter valued at approximately $38,000. Finally, California State Teachers Retirement System grew its stake in 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 purchasing an additional 1,709 shares in the last quarter. 17.38% of the stock is 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.