SELLAS Life Sciences Group (NASDAQ:SLS) Trading 9.2% Higher – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shot up 9.2% during mid-day trading on Tuesday . The company traded as high as $4.40 and last traded at $4.3450. 8,168,767 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 14,920,135 shares. The stock had previously closed at $3.98.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently 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 $615.34 million, a PE ratio of -15.43 and a beta of 2.26. The stock has a fifty day moving average price of $2.54 and a 200-day moving average price of $2.06.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly earnings data 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. Research analysts expect that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at SELLAS Life Sciences Group

In other news, Director Katherine Bach Kalin acquired 63,400 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $1.59 per share, with a total value of $100,806.00. Following the transaction, the director directly owned 104,400 shares in the company, valued at approximately $165,996. This represents a 154.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several institutional investors have recently bought and sold shares of SLS. Anson Funds Management LP grew its stake in 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 worth $9,713,000 after buying an additional 5,757,938 shares during the last quarter. Marshall Wace LLP raised its stake 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 valued at $5,947,000 after buying an additional 2,704,007 shares during the last quarter. Geode Capital Management LLC boosted its holdings in SELLAS Life Sciences Group by 168.2% in 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. Dagco Inc. purchased a new stake in shares of SELLAS Life Sciences Group during the fourth quarter worth about $2,177,000. Finally, Everhart Financial Group Inc. acquired a new position in shares of SELLAS Life Sciences Group during the third quarter valued at about $533,000. 17.38% of the stock is currently owned by institutional investors and hedge funds.

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.