SELLAS Life Sciences Group (NASDAQ:SLS) Trading Down 1.8% - Should You Sell?

Key Points

• SELLAS Life Sciences Group's stock price fell by 1.8%, trading at $1.66 with a significant decline in trading volume, down 57% from the average.
• Analyst firm Maxim Group raised its price target for SELLAS from $4.00 to $7.00, maintaining a "buy" rating.
• Institutional investors have shown renewed interest, with Anson Funds Management LP increasing its holdings by 535.7% in the first quarter.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report)'s stock price fell 1.8% during trading on Wednesday . The company traded as low as $1.65 and last traded at $1.66. 1,169,980 shares were traded during trading, a decline of 57% from the average session volume of 2,730,437 shares. The stock had previously closed at $1.69.

Analyst Upgrades and Downgrades

Separately, Maxim Group increased their price objective on shares of SELLAS Life Sciences Group from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th.

SELLAS Life Sciences Group Trading Up 4.4%

The stock has a market capitalization of $165.63 million, a P/E ratio of -4.37 and a beta of 2.31. The company has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.46.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. As a group, analysts forecast that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jane Wasman bought 20,000 shares of SELLAS Life Sciences Group stock in a transaction on Friday, May 30th. The shares were purchased at an average price of $1.69 per share, for a total transaction of $33,800.00. Following the completion of the acquisition, the director owned 30,400 shares in the company, valued at approximately $51,376. This represents a 192.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of SELLAS Life Sciences Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Blair William & Co. IL bought a new stake in SELLAS Life Sciences Group in the 2nd quarter valued at $35,000. Virtu Financial LLC lifted its holdings in shares of SELLAS Life Sciences Group by 30.9% in the first quarter. Virtu Financial LLC now owns 53,861 shares of the company's stock valued at $58,000 after purchasing an additional 12,706 shares in the last quarter. Northern Trust Corp boosted its position in shares of SELLAS Life Sciences Group by 33.6% during the fourth quarter. Northern Trust Corp now owns 134,721 shares of the company's stock worth $140,000 after buying an additional 33,878 shares during the period. Brooklyn FI LLC bought a new position in shares of SELLAS Life Sciences Group during the fourth quarter worth about $677,000. Finally, Geode Capital Management LLC raised its position in SELLAS Life Sciences Group by 21.2% in the 4th quarter. Geode Capital Management LLC now owns 733,546 shares of the company's stock valued at $763,000 after buying an additional 128,355 shares during the last quarter. 17.38% of the stock is owned by institutional investors.

About SELLAS Life Sciences Group

SELLAS Life Sciences Group, Inc, a late-stage clinical biopharmaceutical company, focuses on the development of novel cancer immunotherapies for various cancer indications in the United States. The company's lead product candidate is galinpepimut-S (GPS), a cancer immunotherapeutic agent that targets Wilms tumor 1, which is in Phase 3 clinical trials for the treatment of acute myeloid leukemia; and in Phase 1/2 clinical trials for the treatment for ovarian cancer.