SELLAS Life Sciences Group (NASDAQ:SLS) Trading Up 13.1% – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares were up 13.1% on Friday . The company traded as high as $12.78 and last traded at $13.2860. Approximately 1,295,199 shares were traded during trading, a decline of 85% from the average daily volume of 8,510,879 shares. The stock had previously closed at $11.75.

Analyst Upgrades and Downgrades

SLS has been the topic of a number of research analyst reports. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SELLAS Life Sciences Group presently has a consensus rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Stock Performance

The company has a 50 day moving average of $9.60 and a 200-day moving average of $6.30. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -56.72 and a beta of 2.42.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLS. Dagco Inc. grew its holdings in shares of SELLAS Life Sciences Group by 19.8% in the second quarter. Dagco Inc. now owns 1,232,433 shares of the company’s stock valued at $18,191,000 after purchasing an additional 203,653 shares in the last quarter. Bank of America Corp DE lifted its holdings in SELLAS Life Sciences Group by 535.7% during the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock worth $2,714,000 after buying an additional 540,748 shares in the last quarter. California State Teachers Retirement System boosted its position in SELLAS Life Sciences Group by 22.4% in the 1st quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock valued at $39,000 after buying an additional 1,709 shares during the period. The Manufacturers Life Insurance Company boosted its position in SELLAS Life Sciences Group by 20.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 45,691 shares of the company’s stock valued at $193,000 after buying an additional 7,673 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in shares of SELLAS Life Sciences Group in the first quarter worth $315,000. Institutional investors and hedge funds 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.