SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Up 8.8% – Still a Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares traded up 8.8% on Friday . The stock traded as high as $8.09 and last traded at $8.2290. 2,532,904 shares changed hands during trading, a decline of 68% from the average session volume of 7,875,479 shares. The stock had previously closed at $7.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Maxim Group increased their price objective on shares of 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 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, SELLAS Life Sciences Group has an average rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Stock Up 6.1%

The firm has a market capitalization of $1.49 billion, a P/E ratio of -35.07 and a beta of 2.24. The company’s 50 day moving average is $5.23 and its 200-day moving average is $3.91.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in SELLAS Life Sciences Group by 2.8% during the third quarter. Vanguard Group Inc. now owns 6,839,905 shares of the company’s stock worth $11,012,000 after acquiring an additional 185,106 shares in the last quarter. Anson Funds Management LP boosted its stake in SELLAS Life Sciences Group by 2,093.8% during the third quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock worth $9,713,000 after acquiring an additional 5,757,938 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SELLAS Life Sciences Group by 35.9% in the fourth quarter. Geode Capital Management LLC now owns 3,077,337 shares of the company’s stock valued at $11,604,000 after buying an additional 812,953 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of SELLAS Life Sciences Group by 23,550.0% in the second quarter. Marshall Wace LLP now owns 2,715,489 shares of the company’s stock valued at $5,947,000 after buying an additional 2,704,007 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of SELLAS Life Sciences Group by 60.8% in the fourth quarter. State Street Corp now owns 2,188,171 shares of the company’s stock valued at $8,249,000 after buying an additional 827,257 shares in the last quarter. 17.38% of the stock is owned by 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.