SELLAS Life Sciences Group (NASDAQ:SLS) Posts Earnings Results, Beats Estimates By $0.02 EPS

SELLAS Life Sciences Group (NASDAQ:SLS) released its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02, FiscalAI reports.

SELLAS Life Sciences Group Stock Down 1.3%

Shares of NASDAQ:SLS traded down $0.02 during trading on Wednesday, hitting $1.49. The stock had a trading volume of 3,839,963 shares, compared to its average volume of 2,785,050. SELLAS Life Sciences Group has a 12-month low of $0.77 and a 12-month high of $2.48. The stock has a market capitalization of $186.37 million, a price-to-earnings ratio of -4.66 and a beta of 2.64. The stock has a 50-day simple moving average of $1.82 and a two-hundred day simple moving average of $1.77.

Institutional Trading of SELLAS Life Sciences Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of SELLAS Life Sciences Group by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,839,905 shares of the company’s stock valued at $11,012,000 after acquiring an additional 185,106 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in shares of SELLAS Life Sciences Group during the second quarter worth $44,000. Bank of America Corp DE lifted its position in SELLAS Life Sciences Group by 5,459.3% during the second quarter. Bank of America Corp DE now owns 34,579 shares of the company’s stock valued at $76,000 after purchasing an additional 33,957 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in SELLAS Life Sciences Group during the second quarter valued at $114,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in SELLAS Life Sciences Group in the second quarter valued at $76,000. 17.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SLS shares. Maxim Group increased their price objective on SELLAS Life Sciences Group from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, October 8th. 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 a consensus rating of “Hold” and a consensus price target of $7.00.

About SELLAS Life Sciences Group

SELLAS Life Sciences Group, Inc, a late-stage clinical biopharmaceutical company, focuses on the development of novel cancer immunotherapies for various cancer indications in the United States. The company’s lead product candidate is galinpepimut-S (GPS), a cancer immunotherapeutic agent that targets Wilms tumor 1, which is in Phase 3 clinical trials for the treatment of acute myeloid leukemia; and in Phase 1/2 clinical trials for the treatment for ovarian cancer.