SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 8.4% - Here's Why

Key Points

• Shares fell 8.4% to about $4.58 on Tuesday, trading as low as $4.54 with roughly 4.67 million shares changing hands — a 74% drop from the average daily volume of 18.3 million and down from the prior close of $5.00.
• Analyst sentiment is mixed: Weiss Ratings reissued a "sell (d-)", the stock has one Buy and one Sell from analysts, and the MarketBeat consensus is a "Hold" with a $7.00 price target.
• An insider purchase — Director Katherine Bach Kalin bought 63,400 shares at $1.59 on Nov. 19, raising her stake to 104,400 shares; the company also reported a slight quarterly beat (EPS -$0.06 vs. -$0.08) and has a market cap of about $566 million with a negative P/E.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) dropped 8.4% during trading on Tuesday . The company traded as low as $4.54 and last traded at $4.5810. Approximately 4,668,402 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 18,296,564 shares. The stock had previously closed at $5.00.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.00.

SELLAS Life Sciences Group Stock Performance

The firm has a market capitalization of $566.21 million, a P/E ratio of -14.20 and a beta of 2.26. The stock has a 50-day moving average of $2.10 and a 200 day moving average of $1.92.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last announced its earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. On average, equities analysts predict that SELLAS Life Sciences Group, Inc. will post -0.57 EPS for the current year.

Insider Buying and Selling at SELLAS Life Sciences Group

In related news, Director Katherine Bach Kalin purchased 63,400 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $1.59 per share, with a total value of $100,806.00. Following the completion of the acquisition, the director directly owned 104,400 shares in the company, valued at approximately $165,996. This trade represents a 154.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of SELLAS Life Sciences Group by 21.9% in the 3rd quarter. Bank of America Corp DE now owns 42,150 shares of the company's stock valued at $68,000 after purchasing an additional 7,571 shares during the period. Anson Funds Management LP increased its holdings in SELLAS Life Sciences Group by 2,093.8% in the third quarter. Anson Funds Management LP now owns 6,032,938 shares of the company's stock valued at $9,713,000 after purchasing an additional 5,757,938 shares during the last quarter. Equitable Holdings Inc. lifted its stake in SELLAS Life Sciences Group by 58.6% in the third quarter. Equitable Holdings Inc. now owns 27,060 shares of the company's stock valued at $44,000 after buying an additional 10,000 shares during the period. Squarepoint Ops LLC boosted its holdings in SELLAS Life Sciences Group by 186.4% during the third quarter. Squarepoint Ops LLC now owns 46,180 shares of the company's stock worth $74,000 after buying an additional 30,058 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of SELLAS Life Sciences Group in the 3rd quarter valued at about $43,000. 17.38% of the stock is owned by institutional investors.

SELLAS Life Sciences Group Company Profile

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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