SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $8.59 and traded as low as $8.48. SELLAS Life Sciences Group shares last traded at $8.55, with a volume of 14,371,594 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLS. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SELLAS Life Sciences Group presently 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 $1.85 billion, a price-to-earnings ratio of -43.52 and a beta of 2.73. The business has a 50 day simple moving average of $11.81 and a 200-day simple moving average of $8.64.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced 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 Trading of SELLAS Life Sciences Group

A number of large investors have recently bought and sold shares of the business. Nykredit A S bought a new stake in shares of SELLAS Life Sciences Group during the second quarter worth $27,000. GAMMA Investing LLC raised its holdings 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 during the period. Sterling Capital Management LLC lifted its position in SELLAS Life Sciences Group by 900.8% in the 3rd quarter. Sterling Capital Management LLC now owns 6,635 shares of the company’s stock valued at $82,000 after acquiring an additional 5,972 shares in the last quarter. City State Bank bought a new position in shares of SELLAS Life Sciences Group during the third quarter worth about $100,000. Finally, California State Teachers Retirement System increased its stake in SELLAS Life Sciences Group by 22.4% in the 1st quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock valued at $39,000 after buying an additional 1,709 shares during the last quarter. 17.38% of the stock is owned by 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. The company’s research and development programs are centered on treatments designed to stimulate or restore the immune system’s ability to recognize and attack cancer cells, as well as targeted therapies for hematologic malignancies.

SELLAS’ lead product candidate is galinpepimut-S (GPS), a multi-peptide immunotherapeutic targeting Wilms’ tumor 1 (WT1), a protein expressed in multiple types of cancer.