SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) gapped up prior to trading on Monday . The stock had previously closed at $12.39, but opened at $13.33. SELLAS Life Sciences Group shares last traded at $13.7840, with a volume of 5,370,872 shares changing hands.

Analysts Set New Price Targets

SLS has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Tuesday, April 21st. Maxim Group lifted their target price on shares of 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Price Performance

The stock has a market capitalization of $2.78 billion, a P/E ratio of -61.30 and a beta of 2.50. The stock’s fifty day moving average is $7.14 and its 200-day moving average is $5.18.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLS. Anson Funds Management LP lifted its holdings in SELLAS Life Sciences Group by 2,093.8% in the 3rd quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock worth $9,713,000 after purchasing an additional 5,757,938 shares during the last quarter. Marshall Wace LLP grew its holdings 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 purchasing an additional 2,704,007 shares during the last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 1,379,988 shares during the period. Millennium Management LLC raised its position 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 purchasing an additional 1,073,147 shares during the period. 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 worth $8,249,000 after buying an additional 827,257 shares during 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.