SELLAS Life Sciences Group (NASDAQ:SLS) Reaches New 52-Week High – Should You Buy?

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.88 and last traded at $14.76, with a volume of 21504395 shares. The stock had previously closed at $15.45.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SLS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Tuesday, April 21st. Maxim Group raised their price target on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Trading Down 4.5%

The company has a market capitalization of $2.90 billion, a PE ratio of -64.17 and a beta of 2.50. The company’s 50 day moving average price is $7.54 and its 200-day moving average price is $5.36.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of SELLAS Life Sciences Group by 535.7% in the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock valued at $2,714,000 after purchasing an additional 540,748 shares in the last quarter. California State Teachers Retirement System raised its holdings in SELLAS Life Sciences Group by 22.4% in the first 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 period. The Manufacturers Life Insurance Company raised its holdings in SELLAS Life Sciences Group by 20.2% in the first quarter. The Manufacturers Life Insurance Company now owns 45,691 shares of the company’s stock valued at $193,000 after buying an additional 7,673 shares during the period. Quantinno Capital Management LP acquired a new position in SELLAS Life Sciences Group during the first quarter valued at approximately $315,000. Finally, Independent Financial Group LLC acquired a new position in SELLAS Life Sciences Group during the first quarter valued at approximately $98,000. 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 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.