SELLAS Life Sciences Group Sees Unusually High Options Volume (NASDAQ:SLS)

Key Points

• SELLAS Life Sciences Group experienced a significant increase in options trading, with 19,634 call options traded—up approximately 325% from the typical volume of 4,623.
• Maxim Group raised its target price for the company's stock from $4.00 to $7.00 and designated it with a "buy" rating.
• In recent institutional activity, Anson Funds Management LP increased its stake by 535.7%, now holding 7,579,095 shares valued at around $8.2 million.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) saw unusually large options trading activity on Tuesday. Stock investors acquired 19,634 call options on the stock. This represents an increase of 325% compared to the average volume of 4,623 call options.

SELLAS Life Sciences Group Trading Down 1.8%

Shares of SLS stock traded down $0.03 during trading hours on Wednesday, hitting $1.66. The company's stock had a trading volume of 1,169,980 shares, compared to its average volume of 2,730,437. The business has a fifty day moving average of $1.80 and a 200-day moving average of $1.46. The stock has a market cap of $165.63 million, a price-to-earnings ratio of -4.37 and a beta of 2.31. SELLAS Life Sciences Group has a twelve month low of $0.77 and a twelve month high of $2.27.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, equities analysts expect that SELLAS Life Sciences Group will post -0.57 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several institutional investors and hedge funds have recently modified their holdings of SLS. Blair William & Co. IL purchased a new position in shares of SELLAS Life Sciences Group during the second quarter valued at approximately $35,000. Virtu Financial LLC lifted its stake in shares of SELLAS Life Sciences Group by 30.9% during the first 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 lifted its stake 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 valued at $140,000 after buying an additional 33,878 shares during the period. Brooklyn FI LLC purchased a new position in shares of SELLAS Life Sciences Group during the fourth quarter valued at approximately $677,000. Finally, Geode Capital Management LLC lifted its stake in shares of SELLAS Life Sciences Group by 21.2% during 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 period. Hedge funds and other institutional investors own 17.38% of the company's stock.

Analyst Ratings Changes

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

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.