SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 6.3% - What's Next?

Key Points

• SELLAS Life Sciences Group shares fell 6.3% on Wednesday, trading as low as $11.89 before last changing hands at $12.09. Trading volume was well below average, with about 1.2 million shares exchanged versus a daily average of 8.5 million.
• Analyst sentiment remains mixed: Weiss Ratings reiterated a sell (d-) rating, while Alliance Global Partners maintained a buy rating. Overall, MarketBeat shows a consensus rating of Hold with an average price target of $10.00.
• The company recently reported a smaller-than-expected quarterly loss, posting EPS of ($0.05) versus estimates of ($0.06). SELLAS is a clinical-stage biopharmaceutical company focused on cancer immunotherapies, with lead candidate galinpepimut-S targeting the WT1 antigen.

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) fell 6.3% on Wednesday . The company traded as low as $11.89 and last traded at $12.0930. 1,204,865 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 8,496,170 shares. The stock had previously closed at $12.90.

Analysts Set New Price Targets

A number of research firms have issued reports on SLS. Weiss Ratings reissued a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research note on Friday. Alliance Global Partners reaffirmed a "buy" rating on shares of SELLAS Life Sciences Group in a report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.00.

SELLAS Life Sciences Group Trading Down 6.3%

The stock's 50-day moving average is $10.07 and its 200-day moving average is $6.49. The stock has a market cap of $2.38 billion, a P/E ratio of -52.46 and a beta of 2.42.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in SELLAS Life Sciences Group by 23,550.0% in the second quarter. Marshall Wace LLP now owns 2,715,489 shares of the company's stock worth $5,947,000 after purchasing an additional 2,704,007 shares during the period. Geode Capital Management LLC increased its position in shares of SELLAS Life Sciences Group by 168.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company's stock valued at $4,819,000 after purchasing an additional 1,379,988 shares during the period. Millennium Management LLC increased its position in shares of SELLAS Life Sciences Group by 341.0% during the 4th quarter. Millennium Management LLC now owns 1,387,849 shares of the company's stock valued at $5,232,000 after purchasing an additional 1,073,147 shares during the period. State Street Corp raised its stake in shares of SELLAS Life Sciences Group by 60.8% in the 4th quarter. State Street Corp now owns 2,188,171 shares of the company's stock worth $8,249,000 after buying an additional 827,257 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of SELLAS Life Sciences Group by 535.7% in the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company's stock worth $2,714,000 after buying an additional 540,748 shares in the last quarter. Institutional investors own 17.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.