SELLAS Life Sciences Group (NASDAQ:SLS) Shares Climb 6.3% - Should You Buy?

Key Points

• SELLAS shares rose 6.3% to about $12.24, with roughly 4.1 million shares traded—below the stock’s average daily volume.
• Analyst views remain mixed: two analysts rate SLS a Buy and one rates it a Sell, resulting in a consensus Hold rating and an average price target of $10, below the current price.
• The clinical-stage cancer biotech reported a quarterly loss of $0.05 per share, missing estimates by $0.01, while institutional investors own 17.38% of the stock.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) shares rose 6.3% during trading on Wednesday. The company traded as high as $12.25 and last traded at $12.2350. Approximately 4,092,780 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 8,029,625 shares. The stock had previously closed at $11.51.

Analysts Set New Price Targets

SLS has been the topic of several recent research reports. Weiss Ratings reaffirmed 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 analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $10.00.

SELLAS Life Sciences Group Trading Up 6.8%

The company has a market cap of $2.48 billion, a PE ratio of -58.33 and a beta of 2.52. The firm has a 50 day moving average of $12.37 and a two-hundred day moving average of $9.33.

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

Institutional Trading of SELLAS Life Sciences Group

Several institutional investors have recently bought and sold shares of SLS. Bank of New York Mellon Corp lifted its position in SELLAS Life Sciences Group by 86.6% in the 1st quarter. Bank of New York Mellon Corp now owns 478,366 shares of the company's stock valued at $2,023,000 after acquiring an additional 221,957 shares in the last quarter. Bank of America Corp DE boosted its stake in SELLAS Life Sciences Group by 535.7% during the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company's stock valued at $2,714,000 after purchasing an additional 540,748 shares during the last quarter. Dagco Inc. increased its holdings in shares of SELLAS Life Sciences Group by 19.8% in the 2nd quarter. Dagco Inc. now owns 1,232,433 shares of the company's stock worth $18,191,000 after purchasing an additional 203,653 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of SELLAS Life Sciences Group by 73.2% in the 2nd quarter. Wellington Management Group LLP now owns 597,309 shares of the company's stock worth $8,816,000 after purchasing an additional 252,531 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of SELLAS Life Sciences Group in the first quarter worth $315,000. 17.38% of the stock is owned by hedge funds and other institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for cancer. The company's research programs are aimed at treating hematologic malignancies and solid tumors through immunotherapy and targeted drug development.

SELLAS's lead immunotherapy candidate is galinpepimut-S, or GPS, an investigational peptide vaccine designed to stimulate an immune response against Wilms' tumor 1 (WT1), a protein associated with several cancers.

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