SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 3.7% - Here's What Happened

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) shares dropped 3.7% on Tuesday . The stock traded as low as $2.04 and last traded at $2.09. Approximately 3,062,879 shares changed hands during mid-day trading, an increase of 76% from the average daily volume of 1,744,360 shares. The stock had previously closed at $2.17.

SELLAS Life Sciences Group Stock Down 3.7%

The stock has a market capitalization of $208.54 million, a P/E ratio of -5.50 and a beta of 2.31. The stock's 50 day moving average price is $1.74 and its 200-day moving average price is $1.37.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. Analysts anticipate that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jane Wasman acquired 20,000 shares of the business's stock in a transaction dated 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 directly owned 30,400 shares in the company, valued at $51,376. The trade was a 192.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC lifted its holdings in shares of SELLAS Life Sciences Group by 30.9% in the 1st quarter. Virtu Financial LLC now owns 53,861 shares of the company's stock valued at $58,000 after buying an additional 12,706 shares during the period. Northern Trust Corp boosted its holdings in SELLAS Life Sciences Group by 33.6% in the 4th 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 last quarter. Brooklyn FI LLC purchased a new stake in shares of SELLAS Life Sciences Group during the fourth quarter worth approximately $677,000. Geode Capital Management LLC raised its position in shares of SELLAS Life Sciences Group by 21.2% in the fourth 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. Finally, Anson Funds Management LP raised its holdings in SELLAS Life Sciences Group by 50.2% in the 4th quarter. Anson Funds Management LP now owns 1,192,266 shares of the company's stock valued at $1,240,000 after acquiring an additional 398,431 shares during the last quarter. 17.38% of the stock is currently owned by hedge funds and other institutional investors.

SELLAS Life Sciences Group Company Profile

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.

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