SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 4.8% - Here's Why

Key Points

• SELLAS shares fell 4.8% to approximately $12.84, with trading volume down 76% from its average daily level.
• Analyst views remain mixed: Alliance Global Partners reiterated a “Buy,” while Weiss Ratings maintained a “Sell (D-)” rating. The consensus rating is “Hold,” with a $10 target price.
• The company reported a quarterly loss of $0.05 per share, missing estimates by $0.01, while institutional investors increased their holdings and now own 17.38% of the stock.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report)'s stock price traded down 4.8% on Friday . The stock traded as low as $12.99 and last traded at $12.8440. Approximately 1,915,600 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 8,117,275 shares. The stock had previously closed at $13.49.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research report 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 investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, SELLAS Life Sciences Group presently has a consensus rating of "Hold" and a consensus target price of $10.00.

SELLAS Life Sciences Group Price Performance

The company has a market capitalization of $2.54 billion, a P/E ratio of -60.13 and a beta of 2.52. The company's 50-day moving average price is $12.78 and its two-hundred day moving average price is $8.75.

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).

Institutional Investors Weigh In On SELLAS Life Sciences Group

A number of institutional investors have recently made changes to their positions in SLS. Tidal Investments LLC grew its position in shares of SELLAS Life Sciences Group by 43.1% in the second quarter. Tidal Investments LLC now owns 128,761 shares of the company's stock valued at $1,901,000 after purchasing an additional 38,754 shares during the last quarter. Arizona State Retirement System bought a new stake in SELLAS Life Sciences Group in the 2nd quarter valued at $731,000. Nykredit A S acquired a new position in SELLAS Life Sciences Group in the 2nd quarter valued at $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in SELLAS Life Sciences Group in the 2nd quarter valued at $257,000. Finally, California State Teachers Retirement System increased its position in SELLAS Life Sciences Group by 31,891.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,987,040 shares of the company's stock worth $44,089,000 after buying an additional 2,977,703 shares during the period. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.