Bank of New York Mellon Corp Makes New Investment in SELLAS Life Sciences Group, Inc. $SLS

Key Points

• Bank of New York Mellon acquired 530,025 shares of SELLAS Life Sciences Group during the second quarter, worth approximately $7.8 million and representing about 0.27% of the company. Institutional investors collectively own 17.38% of SLS.
• Analyst sentiment is mixed: two analysts rate SLS a “Buy,” one rates it a “Sell,” and the overall consensus is “Hold,” with a $10 average price target.
• SLS shares opened at $13.70, near their 52-week high of $15.88, while the clinical-stage biotechnology company reported a quarterly loss of $0.05 per share, missing estimates by $0.01.

Bank of New York Mellon Corp bought a new stake in SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 530,025 shares of the company's stock, valued at approximately $7,823,000. Bank of New York Mellon Corp owned about 0.27% of SELLAS Life Sciences Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in shares of SELLAS Life Sciences Group during the 4th quarter valued at $26,000. California State Teachers Retirement System boosted 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 acquiring an additional 1,709 shares during the period. Beacon Pointe Advisors LLC purchased a new position in shares of SELLAS Life Sciences Group in the fourth quarter valued at $38,000. Concurrent Investment Advisors LLC purchased a new position in shares of SELLAS Life Sciences Group in the fourth quarter valued at $38,000. Finally, Money Concepts Capital Corp bought a new stake in shares of SELLAS Life Sciences Group during the 4th quarter valued at $40,000. 17.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLS shares. Alliance Global Partners reaffirmed a "buy" rating on shares of SELLAS Life Sciences Group in a report on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company 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 $13.70 on Friday. The company's 50 day moving average price is $12.82 and its 200-day moving average price is $8.40. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -65.23 and a beta of 2.52. SELLAS Life Sciences Group, Inc. has a 52-week low of $1.39 and a 52-week high of $15.88.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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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