SELLAS Life Sciences Group (NASDAQ:SLS) Shares Cross Below 200 Day Moving Average - Time to Sell?

Key Points

• SELLAS shares fell below their 200-day moving average, trading as low as $8.48 versus the $8.59 average, with the stock last at $8.55 on heavy volume.
• Analyst sentiment is mixed: two analysts rate SLS a Buy and one rates it a Sell, producing a consensus Hold rating and a $10 average price target.
• The clinical-stage biotech reported a quarterly loss of $0.05 per share, missing the $0.04-per-share consensus estimate; institutional investors own 17.38% of the company.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $8.59 and traded as low as $8.48. SELLAS Life Sciences Group shares last traded at $8.55, with a volume of 14,371,594 shares trading hands.

Analyst Ratings Changes

A number of research analysts have commented 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 reiterated a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, SELLAS Life Sciences Group currently has a consensus rating of "Hold" and an average target price of $10.00.

SELLAS Life Sciences Group Stock Down 11.7%

The company has a market capitalization of $1.73 billion, a P/E ratio of -40.71 and a beta of 2.56. The business has a 50 day simple moving average of $12.02 and a 200-day simple moving average of $8.59.

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 (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01).

Hedge Funds Weigh In On SELLAS Life Sciences Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dagco Inc. boosted its position in shares of SELLAS Life Sciences Group by 8.4% during the 3rd quarter. Dagco Inc. now owns 1,336,449 shares of the company's stock valued at $16,452,000 after purchasing an additional 104,016 shares in the last quarter. Bank of America Corp DE grew its stake in shares of SELLAS Life Sciences Group by 535.7% in the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company's stock worth $2,714,000 after purchasing an additional 540,748 shares during the last quarter. Wellington Management Group LLP grew its stake 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 during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of SELLAS Life Sciences Group in the 2nd quarter worth approximately $7,823,000. Finally, Tidal Investments LLC raised its holdings in shares of SELLAS Life Sciences Group by 43.1% in the 2nd quarter. Tidal Investments LLC now owns 128,761 shares of the company's stock worth $1,901,000 after purchasing an additional 38,754 shares in the last quarter. Institutional investors 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 developing novel cancer therapies. The company's research and development programs are centered on treatments designed to stimulate or restore the immune system's ability to recognize and attack cancer cells, as well as targeted therapies for hematologic malignancies.

SELLAS' lead product candidate is galinpepimut-S (GPS), a multi-peptide immunotherapeutic targeting Wilms' tumor 1 (WT1), a protein expressed in multiple types of cancer.

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