SELLAS Life Sciences Group (NASDAQ:SLS) Stock Jumps 7.4% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price shot up 7.4% on Monday. The company traded as high as $10.65 and last traded at $10.7150. 2,659,286 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 7,872,056 shares. The stock had previously closed at $9.98.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLS. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Thursday. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SELLAS Life Sciences Group presently has a consensus rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The company has a market cap of $2.17 billion, a P/E ratio of -51.21 and a beta of 2.56. The business’s 50-day moving average price is $12.46 and its 200 day moving average price is $9.93.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S bought a new position in SELLAS Life Sciences Group in the 2nd quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in shares of SELLAS Life Sciences Group by 293.2% during the third quarter. GAMMA Investing LLC now owns 2,186 shares of the company’s stock worth $27,000 after acquiring an additional 1,630 shares during the period. California State Teachers Retirement System grew its position in shares of 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 purchasing an additional 1,709 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of SELLAS Life Sciences Group in the first quarter valued at approximately $48,000. Finally, Principal Financial Group Inc. bought a new position in shares of SELLAS Life Sciences Group during the first quarter worth approximately $53,000. 17.38% of the stock is owned by institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel cancer therapies, particularly immunotherapies and targeted treatments for patients with difficult-to-treat malignancies. The company’s research and development programs are designed to address cancers with significant unmet medical needs.

SELLAS’s lead immunotherapy candidate, galinpepimut-S (GPS), is a multi-peptide vaccine intended to stimulate the immune system against Wilms’ tumor 1 (WT1), a protein expressed in several types of cancer.