SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 6.5% - Here's What Happened

Key Points

• SELLAS Life Sciences Group shares fell 6.5% on Thursday, trading as low as $11.85 and finishing at $11.96, well below the prior close of $12.79. Trading volume was also much lighter than usual, with 1.39 million shares changing hands versus an average of 8.5 million.
• Analyst views remain mixed: Alliance Global Partners reiterated a buy rating, while Weiss Ratings maintained a sell (d-) rating. Overall, MarketBeat data shows an average Hold rating and a $10.00 price target.
• The company, a clinical-stage biopharmaceutical firm focused on cancer immunotherapies, reported a smaller-than-expected quarterly loss of ($0.05) per share, beating consensus estimates by a penny. Institutional investors have also been active in the stock, including large increases from Marshall Wace and Geode Capital.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) traded down 6.5% on Thursday . The stock traded as low as $11.85 and last traded at $11.96. 1,390,343 shares changed hands during trading, a decline of 84% from the average session volume of 8,506,925 shares. The stock had previously closed at $12.79.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SLS shares. Alliance Global Partners reiterated a "buy" rating on shares of SELLAS Life Sciences Group in a research note on Monday, July 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research note on Tuesday, April 21st. Two analysts have 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 an average rating of "Hold" and an average price target of $10.00.

SELLAS Life Sciences Group Stock Down 8.9%

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -50.72 and a beta of 2.42. The firm has a 50 day moving average of $9.47 and a 200 day moving average of $6.23.

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

Institutional Investors Weigh In On SELLAS Life Sciences Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP raised its stake 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 worth $5,947,000 after buying an additional 2,704,007 shares during the period. Geode Capital Management LLC increased its holdings in SELLAS Life Sciences Group by 168.2% during the second quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company's stock worth $4,819,000 after buying an additional 1,379,988 shares during the last quarter. Millennium Management LLC raised its position in SELLAS Life Sciences Group by 341.0% in the fourth quarter. Millennium Management LLC now owns 1,387,849 shares of the company's stock worth $5,232,000 after acquiring an additional 1,073,147 shares during the period. State Street Corp grew its position in shares of SELLAS Life Sciences Group by 60.8% during the 4th quarter. State Street Corp now owns 2,188,171 shares of the company's stock valued at $8,249,000 after acquiring an additional 827,257 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of SELLAS Life Sciences Group during the 4th quarter worth approximately $2,177,000. 17.38% of the stock is owned by institutional investors.

SELLAS Life Sciences Group Company Profile

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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