SELLAS Life Sciences Group (NASDAQ:SLS) Trading Up 12.9% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price shot up 12.9% during trading on Monday . The company traded as high as $5.29 and last traded at $5.3760. 4,318,045 shares traded hands during trading, a decline of 50% from the average session volume of 8,561,953 shares. The stock had previously closed at $4.76.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SLS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday, January 22nd. Maxim Group increased their target price on 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SELLAS Life Sciences Group has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Trading Up 9.2%

The firm’s 50-day moving average price is $4.45 and its 200-day moving average price is $2.90. The stock has a market capitalization of $740.12 million, a PE ratio of -21.02 and a beta of 2.18.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. On average, equities research analysts predict that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several large investors have recently modified their holdings of the stock. Anson Funds Management LP lifted its position in SELLAS Life Sciences Group by 2,093.8% in the third quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock worth $9,713,000 after buying an additional 5,757,938 shares during the last quarter. Marshall Wace LLP increased its position in SELLAS Life Sciences Group by 23,550.0% during the second quarter. Marshall Wace LLP now owns 2,715,489 shares of the company’s stock valued at $5,947,000 after acquiring an additional 2,704,007 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of SELLAS Life Sciences Group by 168.2% in the second quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock valued at $4,819,000 after acquiring an additional 1,379,988 shares during the period. Millennium Management LLC raised 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 valued at $5,232,000 after acquiring an additional 1,073,147 shares during the period. Finally, State Street Corp lifted its holdings in shares of SELLAS Life Sciences Group by 60.8% in the 4th quarter. State Street Corp now owns 2,188,171 shares of the company’s stock worth $8,249,000 after acquiring an additional 827,257 shares during the last quarter. Institutional investors own 17.38% of the company’s stock.

SELLAS Life Sciences Group Company Profile

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.