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

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) was up 6.3% during trading on Wednesday. The stock traded as high as $12.25 and last traded at $12.2350. Approximately 4,092,780 shares were traded during mid-day trading, a decline of 49% from the average session volume of 8,029,625 shares. The stock had previously closed at $11.51.

Analyst Upgrades and Downgrades

SLS has been the topic of several research analyst reports. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Price Performance

The company has a market capitalization of $2.48 billion, a P/E ratio of -58.33 and a beta of 2.52. The firm’s 50-day moving average is $12.37 and its 200-day moving average is $9.33.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01).

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several institutional investors and hedge funds have recently bought and sold shares of SLS. Nykredit A S bought a new stake in SELLAS Life Sciences Group during the second quarter valued at about $27,000. California State Teachers Retirement System raised its stake in shares of SELLAS Life Sciences Group by 22.4% in 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. Wealthfront Advisers LLC purchased a new position in shares of SELLAS Life Sciences Group during the 1st quarter valued at about $48,000. Principal Financial Group Inc. purchased a new position in shares of SELLAS Life Sciences Group during the 1st quarter valued at about $53,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of SELLAS Life Sciences Group by 82.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 19,777 shares of the company’s stock valued at $75,000 after acquiring an additional 8,944 shares during the period. 17.38% of the stock is currently owned by hedge funds and other institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for cancer. The company’s research programs are aimed at treating hematologic malignancies and solid tumors through immunotherapy and targeted drug development.

SELLAS’s lead immunotherapy candidate is galinpepimut-S, or GPS, an investigational peptide vaccine designed to stimulate an immune response against Wilms’ tumor 1 (WT1), a protein associated with several cancers.