SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Up 7.4% – Should You Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price shot up 7.4% during trading on Monday. The company traded as high as $10.65 and last traded at $10.7150. 2,659,286 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 7,872,056 shares. The stock had previously closed at $9.98.

Analyst Upgrades and Downgrades

SLS has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday, October 15th. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Trading Up 14.2%

The company’s fifty day simple moving average is $12.47 and its 200 day simple moving average is $10.03. The stock has a market capitalization of $2.42 billion, a P/E ratio of -57.04 and a beta of 2.56.

SELLAS Life Sciences Group (NASDAQ:SLS) last released 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).

Institutional Trading of SELLAS Life Sciences Group

Large investors have recently modified their holdings of the business. Dagco Inc. grew its stake in SELLAS Life Sciences Group by 19.8% in the 2nd quarter. Dagco Inc. now owns 1,232,433 shares of the company’s stock worth $18,191,000 after buying an additional 203,653 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of SELLAS Life Sciences Group by 73.2% in the 2nd quarter. Wellington Management Group LLP now owns 597,309 shares of the company’s stock worth $8,816,000 after buying an additional 252,531 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of SELLAS Life Sciences Group during the 2nd quarter valued at $7,823,000. Bank of America Corp DE raised its position in shares of SELLAS Life Sciences Group by 535.7% during the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock valued at $2,714,000 after buying an additional 540,748 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of SELLAS Life Sciences Group by 43.1% during the 2nd quarter. Tidal Investments LLC now owns 128,761 shares of the company’s stock valued at $1,901,000 after buying an additional 38,754 shares in the last quarter. Institutional investors own 17.38% of the company’s stock.

About SELLAS Life Sciences Group

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel cancer therapies. The company’s research and development programs are centered on treatments designed to stimulate or restore the immune system’s ability to recognize and attack cancer cells, as well as targeted therapies for hematologic malignancies.

SELLAS’ lead product candidate is galinpepimut-S (GPS), a multi-peptide immunotherapeutic targeting Wilms’ tumor 1 (WT1), a protein expressed in multiple types of cancer.