SELLAS Life Sciences Group (NASDAQ:SLS) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Unusually-strong trading volume: SLS traded about 5,343,698 shares mid-day (vs. 8,982,878 the prior session) and last traded at $4.5280, up from the previous close of $3.77.
• Mixed analyst view: Weiss Ratings reiterated a "sell (d-)" while overall MarketBeat data shows a consensus "Hold" with a consensus price target of $7.00 (one Buy, one Sell).
• Insider and ownership notes: Director Katherine Bach Kalin bought 63,400 shares at $1.59 (a 154.6% increase in her holdings); insiders own 1.40% and institutions 17.38% of the stock, with a market cap of ~$594M and a negative P/E of -14.84.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 5,343,698 shares changed hands during mid-day trading, a decline of 41% from the previous session's volume of 8,982,878 shares.The stock last traded at $4.5280 and had previously closed at $3.77.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.00.

SELLAS Life Sciences Group Stock Performance

The firm has a market capitalization of $594.12 million, a PE ratio of -14.84 and a beta of 2.25. The company has a fifty day moving average price of $1.99 and a 200-day moving average price of $1.87.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. On average, equities analysts predict that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current year.

Insider Activity

In related news, Director Katherine Bach Kalin bought 63,400 shares of the company's stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $100,806.00. Following the acquisition, the director owned 104,400 shares in the company, valued at $165,996. This trade represents a 154.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Institutional Trading of SELLAS Life Sciences Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in SELLAS Life Sciences Group by 21.9% in the 3rd quarter. Bank of America Corp DE now owns 42,150 shares of the company's stock worth $68,000 after buying an additional 7,571 shares during the period. Anson Funds Management LP grew its stake in SELLAS Life Sciences Group by 2,093.8% in the 3rd quarter. Anson Funds Management LP now owns 6,032,938 shares of the company's stock worth $9,713,000 after acquiring an additional 5,757,938 shares in the last quarter. Equitable Holdings Inc. increased its position in shares of SELLAS Life Sciences Group by 58.6% during the third quarter. Equitable Holdings Inc. now owns 27,060 shares of the company's stock worth $44,000 after acquiring an additional 10,000 shares during the period. Squarepoint Ops LLC increased its position in shares of SELLAS Life Sciences Group by 186.4% during the third quarter. Squarepoint Ops LLC now owns 46,180 shares of the company's stock worth $74,000 after acquiring an additional 30,058 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of SELLAS Life Sciences Group during the third quarter valued at approximately $43,000. 17.38% of the stock is currently owned by institutional investors.

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.

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