Investors Buy High Volume of SELLAS Life Sciences Group Put Options (NASDAQ:SLS)

Key Points

• Unusual bearish options activity: Traders purchased 61,072 put options on SELLAS Life Sciences Group, about 65% above its average daily put volume.
• Mixed analyst sentiment: Alliance Global Partners reaffirmed a “buy” rating, while Weiss Ratings maintained a “sell” rating. Overall, analysts have an average “Hold” rating and a $10.00 price target.
• Stock and financial performance: SLS shares rose to $11.78, with a $2.32 billion market capitalization, but the company reported a quarterly loss of $0.05 per share, missing estimates by $0.01.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 61,072 put options on the company. This is an increase of approximately 65% compared to the average daily volume of 37,101 put options.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Alliance Global Partners reaffirmed a "buy" rating on shares of SELLAS Life Sciences Group in a report on Wednesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.00.

SELLAS Life Sciences Group Price Performance

Shares of SELLAS Life Sciences Group stock traded up $0.73 during trading on Wednesday, hitting $11.78. The company's stock had a trading volume of 5,527,704 shares, compared to its average volume of 8,273,316. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -51.22 and a beta of 2.48. SELLAS Life Sciences Group has a 52 week low of $1.39 and a 52 week high of $15.88. The stock has a 50-day moving average price of $11.01 and a two-hundred day moving average price of $7.24.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC acquired a new position in shares of SELLAS Life Sciences Group in the 4th quarter valued at about $26,000. BNP Paribas Financial Markets increased its stake in shares of SELLAS Life Sciences Group by 89.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,724 shares of the company's stock valued at $32,000 after acquiring an additional 9,299 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in SELLAS Life Sciences Group during the fourth quarter worth $38,000. Beacon Pointe Advisors LLC acquired a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at about $38,000. Finally, California State Teachers Retirement System grew its stake in shares of SELLAS Life Sciences Group by 22.4% in the 1st quarter. California State Teachers Retirement System now owns 9,337 shares of the company's stock valued at $39,000 after buying an additional 1,709 shares during the period. Institutional investors and hedge funds own 17.38% of the company's stock.

About SELLAS Life Sciences Group

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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