SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $13.50, but opened at $14.30. SELLAS Life Sciences Group shares last traded at $14.2540, with a volume of 2,033,316 shares.

Analyst Ratings Changes

SLS has been the topic of several research analyst reports. Maxim Group lifted their target price on shares of SELLAS Life Sciences Group from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Price Performance

The stock has a 50 day simple moving average of $8.83 and a two-hundred day simple moving average of $5.95. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -58.74 and a beta of 2.42.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new stake in shares of SELLAS Life Sciences Group in the 4th quarter valued at approximately $26,000. BNP Paribas Financial Markets increased its holdings in shares of SELLAS Life Sciences Group by 89.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,724 shares of the company’s stock worth $32,000 after buying an additional 9,299 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of SELLAS Life Sciences Group during the 4th quarter valued at approximately $38,000. Beacon Pointe Advisors LLC purchased a new stake in shares of SELLAS Life Sciences Group during the 4th quarter valued at approximately $38,000. Finally, California State Teachers Retirement System lifted 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 acquiring an additional 1,709 shares during the last quarter. 17.38% of the stock is 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.