SELLAS Life Sciences Group (NASDAQ:SLS) Shares Up 8.5% – Still a Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares rose 8.5% during trading on Monday . The stock traded as high as $8.79 and last traded at $8.7310. Approximately 2,294,352 shares changed hands during trading, a decline of 71% from the average daily volume of 8,000,304 shares. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLS. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Tuesday, April 21st. Maxim Group boosted their price objective on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat, SELLAS Life Sciences Group has an average rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Stock Up 6.3%

The stock has a market capitalization of $1.78 billion, a P/E ratio of -39.43 and a beta of 2.50. The business’s 50 day simple moving average is $6.79 and its two-hundred day simple moving average is $4.99.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Anson Funds Management LP increased its position in shares of SELLAS Life Sciences Group by 2,093.8% during the 3rd quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock valued at $9,713,000 after purchasing an additional 5,757,938 shares during the last quarter. Marshall Wace LLP raised its stake in shares of SELLAS Life Sciences Group by 23,550.0% during the 2nd quarter. Marshall Wace LLP now owns 2,715,489 shares of the company’s stock worth $5,947,000 after purchasing an additional 2,704,007 shares during the period. Geode Capital Management LLC boosted its holdings in shares of SELLAS Life Sciences Group by 168.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock worth $4,819,000 after buying an additional 1,379,988 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of SELLAS Life Sciences Group by 341.0% in the 4th quarter. Millennium Management LLC now owns 1,387,849 shares of the company’s stock worth $5,232,000 after buying an additional 1,073,147 shares during the last quarter. Finally, State Street Corp boosted 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 buying an additional 827,257 shares during the last quarter. Hedge funds and other 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 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.