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 over 10,263 call options purchased, marking a 90% rise compared to the average daily volume.
• The company's stock price rose 4.6% to $1.71, while it maintains a market capitalization of $179.54 million and has seen a wide trading range over the past year.
• Analysts at Maxim Group have increased their target price for SELLAS to $7.00 and assigned a "buy" rating, indicating positive sentiment about the company's future growth.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS - Get Free Report) saw unusually large options trading on Monday. Investors purchased 10,263 call options on the company. Thisrepresentsanincreaseofapproximately90% compared to the average daily volume of 5,411 call options.

SELLAS Life Sciences Group Stock Up 4.6%

SLS traded up $0.08 during trading on Monday, hitting $1.71. The company had a trading volume of 1,626,164 shares, compared to its average volume of 2,547,521. SELLAS Life Sciences Group has a one year low of $0.77 and a one year high of $2.27. The firm's 50-day moving average price is $1.77 and its 200 day moving average price is $1.51. The company has a market capitalization of $179.54 million, a PE ratio of -5.39 and a beta of 2.26.

SELLAS Life Sciences Group (NASDAQ:SLS - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. Sell-side analysts forecast that SELLAS Life Sciences Group will post -0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at SELLAS Life Sciences Group

In other news, Director Jane Wasman acquired 20,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were bought at an average price of $1.69 per share, with a total value of $33,800.00. Following the purchase, the director owned 30,400 shares of the company's stock, valued at approximately $51,376. This represents a 192.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anson Funds Management LP boosted its holdings in SELLAS Life Sciences Group by 535.7% in the 1st quarter. Anson Funds Management LP now owns 7,579,095 shares of the company's stock worth $8,185,000 after buying an additional 6,386,829 shares during the period. Marshall Wace LLP boosted its stake in shares of 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 valued at $5,947,000 after purchasing an additional 2,704,007 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 worth $4,819,000 after acquiring an additional 1,379,988 shares in the last quarter. Brooklyn FI LLC bought a new stake in SELLAS Life Sciences Group during the fourth quarter worth about $677,000. Finally, Rhumbline Advisers purchased a new position in SELLAS Life Sciences Group in the second quarter worth about $297,000. 17.38% of the stock is owned by 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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