SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 7.7% – Here’s What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares dropped 7.7% on Monday . The company traded as low as $4.04 and last traded at $4.0250. Approximately 3,434,057 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 8,498,716 shares. The stock had previously closed at $4.36.

Wall Street Analysts Forecast Growth

SLS has been the topic of several recent analyst reports. Maxim Group raised their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Trading Down 7.9%

The firm has a 50 day moving average of $4.54 and a 200-day moving average of $3.02. The company has a market cap of $571.90 million, a P/E ratio of -16.06 and a beta of 2.18.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Equities analysts predict that SELLAS Life Sciences Group, Inc. will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Grange Capital LLC increased its holdings in SELLAS Life Sciences Group by 18.5% in the 4th quarter. Grange Capital LLC now owns 16,001 shares of the company’s stock valued at $60,000 after acquiring an additional 2,500 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of SELLAS Life Sciences Group by 6.2% during the 4th quarter. Invesco Ltd. now owns 53,293 shares of the company’s stock valued at $201,000 after purchasing an additional 3,114 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of SELLAS Life Sciences Group by 13.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 38,018 shares of the company’s stock valued at $143,000 after purchasing an additional 4,564 shares in the last quarter. Equitable Holdings Inc. increased its holdings in shares of SELLAS Life Sciences Group by 18.5% in the fourth quarter. Equitable Holdings Inc. now owns 32,060 shares of the company’s stock worth $121,000 after purchasing an additional 5,000 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of SELLAS Life Sciences Group by 31.5% in the fourth quarter. ProShare Advisors LLC now owns 22,638 shares of the company’s stock worth $85,000 after purchasing an additional 5,417 shares during the last quarter. 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.