SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up - Time to Buy?

Key Points

• SELLAS shares jumped 5.7%, opening at $11.92 versus a prior close of $11.05, and last traded near $11.74 on volume of about 1.56 million shares.
• Analyst sentiment is mixed: two analysts rate the stock “Buy” and one rates it “Sell.” MarketBeat reports a consensus rating of “Hold” and an average price target of $10.00.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $0.05 per share, missing estimates by $0.01. Institutional ownership stands at 17.38%, with Geode Capital increasing its stake by 168.2% during the second quarter.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $11.05, but opened at $11.92. SELLAS Life Sciences Group shares last traded at $11.7370, with a volume of 1,562,683 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLS. Alliance Global Partners reissued a "buy" rating on shares of SELLAS Life Sciences Group in a research report on Wednesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, SELLAS Life Sciences Group currently has a consensus rating of "Hold" and an average target price of $10.00.

SELLAS Life Sciences Group Trading Up 5.7%

The stock's 50-day moving average is $11.01 and its 200-day moving average is $7.24. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -50.78 and a beta of 2.48.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01).

Institutional Trading of SELLAS Life Sciences Group

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 1,379,988 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of SELLAS Life Sciences Group in the second quarter valued at about $136,000. Rhumbline Advisers acquired a new position in SELLAS Life Sciences Group during the 2nd quarter worth approximately $297,000. XTX Topco Ltd purchased a new position in SELLAS Life Sciences Group in the 2nd quarter worth approximately $168,000. Finally, New York State Common Retirement Fund acquired a new position in shares of SELLAS Life Sciences Group during the second quarter worth $108,000. 17.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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