Bank of America Corp DE Acquires 540,748 Shares of SELLAS Life Sciences Group, Inc. $SLS

Key Points

• Bank of America increased its SELLAS Life Sciences stake by 535.7% during the first quarter, acquiring 540,748 additional shares for a total of 641,683 shares valued at approximately $2.7 million.
• Institutional investors own 17.38% of SELLAS, with several funds initiating or expanding positions. Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $10 price target.
• SELLAS shares opened at $13.34, near their 52-week high of $15.88, while the company reported a quarterly loss of $0.05 per share, slightly worse than analysts’ expectations.

Bank of America Corp DE boosted its holdings in shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Free Report) by 535.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 641,683 shares of the company's stock after acquiring an additional 540,748 shares during the quarter. Bank of America Corp DE owned 0.34% of SELLAS Life Sciences Group worth $2,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLS. California State Teachers Retirement System grew its holdings 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 worth $39,000 after purchasing an additional 1,709 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in SELLAS Life Sciences Group by 20.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 45,691 shares of the company's stock worth $193,000 after acquiring an additional 7,673 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of SELLAS Life Sciences Group during the first quarter worth approximately $315,000. Independent Financial Group LLC purchased a new position in shares of SELLAS Life Sciences Group during the first quarter worth approximately $98,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of SELLAS Life Sciences Group during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 17.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SLS shares. Weiss Ratings reissued 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, August 12th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Performance

Shares of SELLAS Life Sciences Group stock opened at $13.34 on Tuesday. The company has a market capitalization of $2.69 billion, a PE ratio of -63.52 and a beta of 2.48. The company has a 50-day simple moving average of $12.57 and a two-hundred day simple moving average of $8.18. SELLAS Life Sciences Group, Inc. has a one year low of $1.39 and a one year high of $15.88.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01).

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.

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