SELLAS Life Sciences Group (NASDAQ:SLS) Trading 12.4% Higher - Time to Buy?

Key Points

• SELLAS shares jumped 12.4% to about $11.25, with 4.46 million shares traded—47% below the stock’s average daily volume.
• Analyst sentiment remains mixed: two analysts rate the stock Buy and one rates it Sell, resulting in an overall “Hold” consensus and a $10.00 average price target.
• Several institutional investors increased their positions, but the company remains a clinical-stage biopharmaceutical business with a negative PE ratio and a lead cancer-immunotherapy candidate, galinpepimut-S, still under investigation.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) shares rose 12.4% on Monday . The stock traded as high as $11.15 and last traded at $11.2520. 4,462,403 shares were traded during trading, a decline of 47% from the average daily volume of 8,411,522 shares. The stock had previously closed at $10.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SLS shares. Weiss Ratings restated a "sell (d-)" rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Alliance Global Partners reaffirmed a "buy" rating on shares of SELLAS Life Sciences Group in a report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Up 12.1%

The company has a 50-day moving average of $10.60 and a 200 day moving average of $6.88. The firm has a market capitalization of $2.21 billion, a PE ratio of -48.73 and a beta of 2.42.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP grew its position in SELLAS Life Sciences Group by 23,550.0% in the second 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 in the last quarter. Geode Capital Management LLC raised its position in 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 valued at $4,819,000 after purchasing an additional 1,379,988 shares in the last quarter. Millennium Management LLC raised its position in SELLAS Life Sciences Group by 341.0% during the fourth quarter. Millennium Management LLC now owns 1,387,849 shares of the company's stock valued at $5,232,000 after purchasing an additional 1,073,147 shares in the last quarter. State Street Corp lifted its stake in SELLAS Life Sciences Group by 60.8% during the fourth quarter. State Street Corp now owns 2,188,171 shares of the company's stock worth $8,249,000 after purchasing an additional 827,257 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in SELLAS Life Sciences Group by 535.7% during the first quarter. Bank of America Corp DE now owns 641,683 shares of the company's stock worth $2,714,000 after purchasing an additional 540,748 shares during the last quarter. 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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