SELLAS Life Sciences Group (NASDAQ:SLS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• SELLAS Life Sciences Group reported quarterly earnings of ($0.07) EPS, exceeding analysts' estimates of ($0.08) by $0.01.
• The company's stock experienced a 4.5% increase in trading, reaching $1.61, with a market capitalization of approximately $160.65 million.
• Maxim Group raised its price target for SELLAS Life Sciences from $4.00 to $7.00, maintaining a "buy" rating for the stock.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01, Zacks reports.

SELLAS Life Sciences Group Trading Up 5.2%

SELLAS Life Sciences Group stock traded up $0.08 during mid-day trading on Friday, hitting $1.63. The company had a trading volume of 1,297,184 shares, compared to its average volume of 1,740,566. The stock's 50 day moving average price is $1.77 and its two-hundred day moving average price is $1.51. SELLAS Life Sciences Group has a 12 month low of $0.77 and a 12 month high of $2.27. The company has a market capitalization of $171.64 million, a PE ratio of -5.09 and a beta of 2.26.

Insider Buying and Selling

In other news, Director Jane Wasman acquired 20,000 shares of SELLAS Life Sciences Group stock in a transaction that occurred on Friday, May 30th. The stock was bought at an average price of $1.69 per share, for a total transaction of $33,800.00. Following the completion of the transaction, the director owned 30,400 shares in the company, valued at $51,376. The trade was a 192.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several institutional investors have recently modified their holdings of the stock. Great Valley Advisor Group Inc. bought a new stake in shares of SELLAS Life Sciences Group during the 2nd quarter worth approximately $44,000. Bank of America Corp DE lifted its stake in shares of SELLAS Life Sciences Group by 5,459.3% during the 2nd quarter. Bank of America Corp DE now owns 34,579 shares of the company's stock worth $76,000 after acquiring an additional 33,957 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in SELLAS Life Sciences Group during the 2nd quarter valued at $114,000. The Manufacturers Life Insurance Company bought a new stake in SELLAS Life Sciences Group during the 2nd quarter valued at $76,000. Finally, Marshall Wace LLP raised its position in SELLAS Life Sciences Group by 23,550.0% during the 2nd quarter. Marshall Wace LLP now owns 2,715,489 shares of the company's stock valued at $5,947,000 after purchasing an additional 2,704,007 shares in the last quarter. 17.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lifted their price target on SELLAS Life Sciences Group from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th.

About SELLAS Life Sciences Group

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.