Maxim Group Issues Positive Forecast for SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) had its price target boosted by stock analysts at Maxim Group from $4.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Maxim Group's price objective points to a potential upside of 268.42% from the company's previous close.

SELLAS Life Sciences Group Stock Performance

Shares of NASDAQ SLS traded down $0.02 during mid-day trading on Wednesday, reaching $1.90. The company had a trading volume of 1,792,182 shares, compared to its average volume of 1,824,945. The stock has a fifty day moving average of $1.78 and a two-hundred day moving average of $1.41. The company has a market capitalization of $189.58 million, a price-to-earnings ratio of -5.00 and a beta of 2.31. SELLAS Life Sciences Group has a 12-month low of $0.77 and a 12-month high of $2.27.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. Sell-side analysts forecast that SELLAS Life Sciences Group will post -0.57 earnings per share for the current fiscal year.

Insider Activity at SELLAS Life Sciences Group

In other news, Director Jane Wasman purchased 20,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were bought at an average price of $1.69 per share, with a total value of $33,800.00. Following the completion of the transaction, the director directly owned 30,400 shares in the company, valued at $51,376. This trade represents a 192.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of institutional investors have recently modified their holdings of the company. Anson Funds Management LP raised its position in shares of SELLAS Life Sciences Group by 535.7% in the first quarter. Anson Funds Management LP now owns 7,579,095 shares of the company's stock valued at $8,185,000 after purchasing an additional 6,386,829 shares during the period. Geode Capital Management LLC raised its position in shares of SELLAS Life Sciences Group by 21.2% in the fourth quarter. Geode Capital Management LLC now owns 733,546 shares of the company's stock valued at $763,000 after purchasing an additional 128,355 shares during the period. Brooklyn FI LLC bought a new position in shares of SELLAS Life Sciences Group in the fourth quarter valued at approximately $677,000. Northern Trust Corp raised its position in shares of SELLAS Life Sciences Group by 33.6% in the fourth quarter. Northern Trust Corp now owns 134,721 shares of the company's stock valued at $140,000 after purchasing an additional 33,878 shares during the period. Finally, Virtu Financial LLC raised its position in shares of SELLAS Life Sciences Group by 30.9% in the first quarter. Virtu Financial LLC now owns 53,861 shares of the company's stock valued at $58,000 after purchasing an additional 12,706 shares during the period. Institutional investors own 17.38% of the company's stock.

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.