SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 6.8% - What's Next?

Key Points

• SELLAS shares fell 6.8% to approximately $11.19, with about 3.6 million shares traded—56% below average volume.
• Analyst views are mixed: two analysts rate the stock a Buy and one rates it a Sell, resulting in an overall “Hold” rating and an average price target of $10.00.
• The clinical-stage biopharmaceutical company reported quarterly EPS of negative $0.05, slightly better than the negative $0.06 consensus estimate; institutional investors own 17.38% of its shares.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report)'s share price was down 6.8% on Monday . The company traded as low as $11.13 and last traded at $11.1880. Approximately 3,623,288 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 8,305,105 shares. The stock had previously closed at $12.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Alliance Global Partners reissued a "buy" rating on shares of SELLAS Life Sciences Group in a research report on Monday, July 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Two research 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, SELLAS Life Sciences Group presently has an average rating of "Hold" and an average target price of $10.00.

SELLAS Life Sciences Group Stock Performance

The firm has a market capitalization of $2.18 billion, a P/E ratio of -48.24 and a beta of 2.48. The firm has a 50 day simple moving average of $10.92 and a two-hundred day simple moving average of $7.15.

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in SELLAS Life Sciences Group by 22.4% during the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company's stock worth $39,000 after buying an additional 1,709 shares during the last quarter. Grange Capital LLC boosted its stake in SELLAS Life Sciences Group by 18.5% in the fourth quarter. Grange Capital LLC now owns 16,001 shares of the company's stock valued at $60,000 after acquiring an additional 2,500 shares during the last quarter. Invesco Ltd. grew its position in shares of SELLAS Life Sciences Group by 6.2% during the 4th quarter. Invesco Ltd. now owns 53,293 shares of the company's stock valued at $201,000 after acquiring an additional 3,114 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of SELLAS Life Sciences Group by 13.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 38,018 shares of the company's stock valued at $143,000 after acquiring an additional 4,564 shares during the period. Finally, Equitable Holdings Inc. increased its stake in shares of SELLAS Life Sciences Group by 18.5% during the 4th quarter. Equitable Holdings Inc. now owns 32,060 shares of the company's stock worth $121,000 after purchasing an additional 5,000 shares during 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source