SELLAS Life Sciences Group (NASDAQ:SLS) Issues Earnings Results

SELLAS Life Sciences Group (NASDAQ:SLS) issued its earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01, FiscalAI reports.

SELLAS Life Sciences Group Stock Performance

SELLAS Life Sciences Group stock traded up $0.56 during mid-day trading on Thursday, reaching $7.09. The stock had a trading volume of 6,603,155 shares, compared to its average volume of 7,488,169. SELLAS Life Sciences Group has a fifty-two week low of $1.39 and a fifty-two week high of $7.19. The stock’s 50-day simple moving average is $4.98 and its 200-day simple moving average is $3.67. The firm has a market capitalization of $1.31 billion, a PE ratio of -30.76 and a beta of 2.24.

Institutional Investors Weigh In On SELLAS Life Sciences Group

A number of hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its position in shares of 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 buying an additional 2,704,007 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of SELLAS Life Sciences Group by 168.2% during the second quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock valued at $4,819,000 after buying an additional 1,379,988 shares during the last quarter. Millennium Management LLC boosted its position in shares of SELLAS Life Sciences Group by 341.0% during the fourth quarter. Millennium Management LLC now owns 1,387,849 shares of the company’s stock valued at $5,232,000 after buying an additional 1,073,147 shares during the last quarter. State Street Corp boosted its position in shares of SELLAS Life Sciences Group by 60.8% during the fourth quarter. State Street Corp now owns 2,188,171 shares of the company’s stock valued at $8,249,000 after buying an additional 827,257 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of SELLAS Life Sciences Group by 2,036.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 411,654 shares of the company’s stock valued at $1,552,000 after buying an additional 392,389 shares during the last quarter. Institutional investors and hedge funds own 17.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SLS shares. Maxim Group lifted their target price on 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 reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, SELLAS Life Sciences Group presently has an average rating of “Hold” and an average price target of $10.00.

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.