SELLAS Life Sciences Group (NASDAQ:SLS) Reaches New 52-Week High – Time to Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) reached a new 52-week high during trading on Thursday . The company traded as high as $9.70 and last traded at $9.91, with a volume of 1591746 shares trading hands. The stock had previously closed at $9.17.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SLS shares. Maxim Group lifted 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 report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Stock Up 16.4%

The firm has a market cap of $2.10 billion, a PE ratio of -46.57 and a beta of 2.50. The company has a 50-day simple moving average of $6.88 and a two-hundred day simple moving average of $5.04.

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

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several institutional investors have recently added to or reduced their stakes in SLS. Bank of America Corp DE increased its stake in shares of SELLAS Life Sciences Group by 535.7% in the first quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock worth $2,714,000 after purchasing an additional 540,748 shares in the last quarter. California State Teachers Retirement System boosted its position 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 valued at $39,000 after acquiring an additional 1,709 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of SELLAS Life Sciences Group by 20.2% in the first quarter. The Manufacturers Life Insurance Company now owns 45,691 shares of the company’s stock worth $193,000 after purchasing an additional 7,673 shares during the period. Quantinno Capital Management LP bought a new position in SELLAS Life Sciences Group in the 1st quarter worth about $315,000. Finally, Independent Financial Group LLC bought a new position in shares of SELLAS Life Sciences Group in the first quarter worth approximately $98,000. 17.38% of the stock is owned by hedge funds and other 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.