SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 11.2% – Should You Sell?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price dropped 11.2% during trading on Friday. The stock traded as low as $9.75 and last traded at $10.0740. Approximately 2,266,378 shares were traded during mid-day trading, a decline of 71% from the average session volume of 7,821,848 shares. The stock had previously closed at $11.34.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SLS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Thursday. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Price Performance

The firm has a market capitalization of $2.00 billion, a PE ratio of -46.71 and a beta of 2.56. The company’s fifty day simple moving average is $12.50 and its 200 day simple moving average is $9.89.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01).

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of SELLAS Life Sciences Group by 293.2% during the third quarter. GAMMA Investing LLC now owns 2,186 shares of the company’s stock worth $27,000 after acquiring an additional 1,630 shares in the last quarter. Tidal Investments LLC grew its position in shares of SELLAS Life Sciences Group by 43.1% in the second quarter. Tidal Investments LLC now owns 128,761 shares of the company’s stock valued at $1,901,000 after purchasing an additional 38,754 shares in the last quarter. Arizona State Retirement System bought a new position in SELLAS Life Sciences Group in the 2nd quarter worth about $731,000. Nykredit A S bought a new position in SELLAS Life Sciences Group in the 2nd quarter worth about $27,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in SELLAS Life Sciences Group in the 2nd quarter worth about $257,000. 17.38% of the stock is currently owned by hedge funds and other institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel cancer therapies, particularly immunotherapies and targeted treatments for patients with difficult-to-treat malignancies. The company’s research and development programs are designed to address cancers with significant unmet medical needs.

SELLAS’s lead immunotherapy candidate, galinpepimut-S (GPS), is a multi-peptide vaccine intended to stimulate the immune system against Wilms’ tumor 1 (WT1), a protein expressed in several types of cancer.