SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 6.8% – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) was down 6.8% during trading on Monday . The stock traded as low as $11.13 and last traded at $11.1880. 3,623,288 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 8,305,105 shares. The stock had previously closed at $12.01.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SLS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to 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 Trading Up 7.6%

The company has a market cap of $2.34 billion, a P/E ratio of -52.31 and a beta of 2.48. The business has a 50 day moving average price of $11.01 and a 200-day moving average price of $7.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in SELLAS Life Sciences Group by 86.6% in the first quarter. Bank of New York Mellon Corp now owns 478,366 shares of the company’s stock valued at $2,023,000 after buying an additional 221,957 shares during the period. Dagco Inc. lifted its position in shares of SELLAS Life Sciences Group by 19.8% in the second quarter. Dagco Inc. now owns 1,232,433 shares of the company’s stock valued at $18,191,000 after buying an additional 203,653 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of SELLAS Life Sciences Group during the 1st quarter worth approximately $253,000. World Investment Advisors bought a new position in shares of SELLAS Life Sciences Group during the 4th quarter worth approximately $166,000. Finally, Millington Financial Advisors LLC acquired a new position in shares of SELLAS Life Sciences Group during the 4th quarter worth approximately $93,000. Institutional investors own 17.38% of the company’s stock.

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.