SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 7.7% - Here's Why

Key Points

• Shares of SELLAS Life Sciences fell about 7.7% in mid-day trading to roughly $4.03, with volume of ~3.43M shares — about 60% below the stock's average session volume.
• Analysts are mixed: Maxim Group upgraded the stock to a Buy and raised its target from $7 to $10, while Weiss Ratings reaffirmed a Sell
• SELLAS is a clinical-stage biotech (market cap ≈ $572M) developing the WT1-targeting vaccine galinpepimut‑S (GPS)-16.06.

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) traded down 7.7% during mid-day trading on Monday . The company traded as low as $4.04 and last traded at $4.0250. 3,434,057 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 8,498,716 shares. The stock had previously closed at $4.36.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Maxim Group lifted their price objective on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SELLAS Life Sciences Group presently has an average rating of "Hold" and an average target price of $10.00.

SELLAS Life Sciences Group Price Performance

The company has a market capitalization of $571.90 million, a P/E ratio of -16.06 and a beta of 2.18. The firm's 50-day moving average is $4.54 and its 200-day moving average is $3.02.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, analysts forecast that SELLAS Life Sciences Group, Inc. will post -0.57 EPS for the current fiscal year.

Institutional Trading of SELLAS Life Sciences Group

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of SELLAS Life Sciences Group by 2.8% in the third quarter. Vanguard Group Inc. now owns 6,839,905 shares of the company's stock worth $11,012,000 after buying an additional 185,106 shares during the period. Anson Funds Management LP grew its stake in shares of SELLAS Life Sciences Group by 2,093.8% during the 3rd quarter. Anson Funds Management LP now owns 6,032,938 shares of the company's stock valued at $9,713,000 after acquiring an additional 5,757,938 shares during the period. Geode Capital Management LLC increased its holdings in SELLAS Life Sciences Group by 35.9% in the 4th quarter. Geode Capital Management LLC now owns 3,077,337 shares of the company's stock worth $11,604,000 after acquiring an additional 812,953 shares in the last quarter. Marshall Wace LLP raised its stake in SELLAS Life Sciences Group by 23,550.0% during the 2nd quarter. Marshall Wace LLP now owns 2,715,489 shares of the company's stock worth $5,947,000 after acquiring an additional 2,704,007 shares during the period. Finally, State Street Corp raised its stake in SELLAS Life Sciences Group by 60.8% during the 4th quarter. State Street Corp now owns 2,188,171 shares of the company's stock worth $8,249,000 after acquiring an additional 827,257 shares during the period. 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.

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