SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 8.4% - Time to Sell?

Key Points

• SELLAS shares fell 8.4% to about $14.16 in midday trading, with volume roughly 70% below the average daily level.
• Analyst views are mixed: two analysts rate the stock Buy and one rates it Sell, resulting in a consensus Hold rating and a $10 target price.
• The company reported a quarterly loss of $0.05 per share, missing the $0.04 loss estimate; institutional investors own 17.38% of the stock, with Geode Capital significantly increasing its position.

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) were down 8.4% during mid-day trading on Monday . The company traded as low as $14.17 and last traded at $14.1580. Approximately 2,469,527 shares changed hands during trading, a decline of 70% from the average daily volume of 8,216,982 shares. The stock had previously closed at $15.46.

Analyst Ratings Changes

Several equities research analysts have commented on SLS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Alliance Global Partners reaffirmed a "buy" rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.00.

SELLAS Life Sciences Group Trading Down 7.1%

The company has a market capitalization of $2.90 billion, a P/E ratio of -68.39 and a beta of 2.48. The stock has a 50 day moving average of $11.85 and a 200-day moving average of $7.75.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01).

Institutional Trading of SELLAS Life Sciences Group

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in SELLAS Life Sciences Group by 168.2% in the second 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. JPMorgan Chase & Co. purchased a new position in shares of SELLAS Life Sciences Group in the second quarter worth approximately $136,000. Rhumbline Advisers acquired a new position in SELLAS Life Sciences Group in the 2nd quarter worth about $297,000. XTX Topco Ltd acquired a new position in SELLAS Life Sciences Group in the 2nd quarter valued at $168,000. Finally, New York State Common Retirement Fund bought a new stake in shares of SELLAS Life Sciences Group during the second quarter valued at approximately $108,000. Institutional investors and hedge funds 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.

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