SELLAS Life Sciences Group, Inc. (NASDAQ:SLS – Get Free Report) shares reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $6.22 and last traded at $6.5010, with a volume of 1200545 shares changing hands. The stock had previously closed at $5.22.
The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01.
Wall Street Analysts Forecast Growth
SLS has been the topic of a number of recent research reports. Maxim Group lifted their target price on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SELLAS Life Sciences Group has a consensus rating of “Hold” and a consensus price target of $10.00.
Institutional Trading of SELLAS Life Sciences Group
Several hedge funds and other institutional investors have recently modified their holdings of SLS. Independent Financial Group LLC purchased a new position in shares of SELLAS Life Sciences Group during the first quarter valued at $98,000. Wealthfront Advisers LLC purchased a new stake in SELLAS Life Sciences Group in the 1st quarter worth about $48,000. Bank of New York Mellon Corp boosted its position in SELLAS Life Sciences Group by 86.6% during the 1st quarter. Bank of New York Mellon Corp now owns 478,366 shares of the company’s stock worth $2,023,000 after acquiring an additional 221,957 shares during the period. Principal Financial Group Inc. acquired a new stake in SELLAS Life Sciences Group during the 1st quarter worth about $53,000. Finally, Fifth Third Bancorp purchased a new position in SELLAS Life Sciences Group during the 1st quarter valued at about $253,000. Institutional investors and hedge funds own 17.38% of the company’s stock.
SELLAS Life Sciences Group Stock Performance
The company has a market cap of $1.12 billion, a PE ratio of -24.12 and a beta of 2.24. The company has a 50 day simple moving average of $4.95 and a two-hundred day simple moving average of $3.64.
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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