SELLAS Life Sciences Group (NASDAQ:SLS) Stock Falls 11.2% – Should You Sell?

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) dropped 11.2% on Friday. The company traded as low as $9.75 and last traded at $10.0740. 2,266,378 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 7,821,848 shares. The stock had previously closed at $11.34.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Thursday. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Trading Down 12.5%

The company’s 50-day simple moving average is $12.50 and its 200 day simple moving average is $9.89. The stock has a market cap of $2.00 billion, a P/E ratio of -46.71 and a beta of 2.56.

SELLAS Life Sciences Group (NASDAQ:SLS) last announced its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01).

Hedge Funds Weigh In On SELLAS Life Sciences Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in SELLAS Life Sciences Group by 535.7% during the first 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 during the last quarter. Bank of New York Mellon Corp purchased a new position in SELLAS Life Sciences Group in the second quarter valued at about $7,823,000. Dagco Inc. boosted its stake in SELLAS Life Sciences Group by 78.1% in the first quarter. Dagco Inc. now owns 1,028,780 shares of the company’s stock valued at $4,352,000 after acquiring an additional 451,240 shares during the last quarter. Wellington Management Group LLP grew its position in shares of SELLAS Life Sciences Group by 73.2% during the 2nd quarter. Wellington Management Group LLP now owns 597,309 shares of the company’s stock valued at $8,816,000 after acquiring an additional 252,531 shares during the period. Finally, Quantinno Capital Management LP bought a new position in shares of SELLAS Life Sciences Group during the 1st quarter valued at approximately $315,000. 17.38% of the stock is owned by hedge funds and other institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc is a clinical-stage biopharmaceutical company focused on developing novel cancer therapies, particularly immunotherapies and targeted treatments for patients with difficult-to-treat malignancies. The company’s research and development programs are designed to address cancers with significant unmet medical needs.

SELLAS’s lead immunotherapy candidate, galinpepimut-S (GPS), is a multi-peptide vaccine intended to stimulate the immune system against Wilms’ tumor 1 (WT1), a protein expressed in several types of cancer.