SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) Sees Significant Decrease in Short Interest

Key Points

• SELLAS Life Sciences Group, Inc. experienced a significant 28.8% decline in short interest in September, with total short interest dropping to 20,890,000 shares.
• The company's stock opened at $1.89, having a 1-year trading range of $0.77 to $2.27, and a current market cap of $199.02 million.
• Analysts have mixed ratings for the stock, with Maxim Group upgrading the target price to $7.00, while Weiss Ratings assigned a "sell" rating.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totaling 20,890,000 shares, a decline of 28.8% from the August 31st total of 29,340,000 shares. Based on an average trading volume of 2,580,000 shares, the short-interest ratio is presently 8.1 days. Based on an average trading volume of 2,580,000 shares, the short-interest ratio is presently 8.1 days.

SELLAS Life Sciences Group Trading Up 1.1%

SLS opened at $1.89 on Tuesday. SELLAS Life Sciences Group has a 1-year low of $0.77 and a 1-year high of $2.27. The stock's fifty day simple moving average is $1.73 and its 200 day simple moving average is $1.64. The stock has a market cap of $199.02 million, a PE ratio of -5.91 and a beta of 2.62.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Equities analysts forecast that SELLAS Life Sciences Group will post -0.57 earnings per share for the current year.

Institutional Investors Weigh In On SELLAS Life Sciences Group

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its stake in SELLAS Life Sciences Group by 30.9% in the 1st quarter. Virtu Financial LLC now owns 53,861 shares of the company's stock valued at $58,000 after acquiring an additional 12,706 shares during the period. Blair William & Co. IL bought a new stake in SELLAS Life Sciences Group in the 2nd quarter valued at $35,000. ProShare Advisors LLC bought a new stake in SELLAS Life Sciences Group in the 2nd quarter valued at $43,000. Simon Quick Advisors LLC bought a new position in SELLAS Life Sciences Group during the 2nd quarter worth $44,000. Finally, Great Valley Advisor Group Inc. bought a new position in SELLAS Life Sciences Group during the 2nd quarter worth $44,000. Institutional investors own 17.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SLS shares. Maxim Group boosted their target price on SELLAS Life Sciences Group from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $7.00.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc, a late-stage clinical biopharmaceutical company, focuses on the development of novel cancer immunotherapies for various cancer indications in the United States. The company's lead product candidate is galinpepimut-S (GPS), a cancer immunotherapeutic agent that targets Wilms tumor 1, which is in Phase 3 clinical trials for the treatment of acute myeloid leukemia; and in Phase 1/2 clinical trials for the treatment for ovarian cancer.

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