SELLAS Life Sciences Group (NASDAQ:SLS) Issues Earnings Results

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) announced its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01, Zacks reports.

SELLAS Life Sciences Group Trading Up 4.5%

Shares of SELLAS Life Sciences Group stock traded up $0.07 on Tuesday, reaching $1.61. 1,377,673 shares of the company were exchanged, compared to its average volume of 2,574,309. The stock has a fifty day moving average price of $1.77 and a 200-day moving average price of $1.50. The firm has a market capitalization of $160.65 million, a price-to-earnings ratio of -4.24 and a beta of 2.26. SELLAS Life Sciences Group has a fifty-two week low of $0.77 and a fifty-two week high of $2.27.

Insider Activity

In other SELLAS Life Sciences Group news, Director Jane Wasman purchased 20,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average cost of $1.69 per share, with a total value of $33,800.00. Following the completion of the transaction, the director owned 30,400 shares of the company's stock, valued at approximately $51,376. This represents a 192.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in SELLAS Life Sciences Group by 168.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company's stock worth $4,819,000 after purchasing an additional 1,379,988 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in SELLAS Life Sciences Group in the 2nd quarter worth about $136,000. Finally, Rhumbline Advisers acquired a new position in SELLAS Life Sciences Group in the 2nd quarter worth about $297,000. 17.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Maxim Group boosted their price objective 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.

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