SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 4.8% – Time to Sell?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price fell 4.8% during trading on Monday . The company traded as low as $14.03 and last traded at $14.2650. 4,612,166 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 8,562,639 shares. The stock had previously closed at $14.98.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLS. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Tuesday, April 21st. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a report on Monday. Finally, Maxim Group upped their target price on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SELLAS Life Sciences Group has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Trading Down 7.4%

The firm has a market cap of $2.73 billion, a P/E ratio of -60.17 and a beta of 2.42. The company’s 50-day moving average is $8.11 and its two-hundred day moving average is $5.63.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of SELLAS Life Sciences Group by 535.7% in the 1st quarter. Bank of America Corp DE now owns 641,683 shares of the company’s stock worth $2,714,000 after acquiring an additional 540,748 shares in the last quarter. California State Teachers Retirement System boosted its holdings in SELLAS Life Sciences Group by 22.4% during the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock worth $39,000 after purchasing an additional 1,709 shares during the last quarter. The Manufacturers Life Insurance Company grew 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 worth $193,000 after purchasing an additional 7,673 shares in the last quarter. Quantinno Capital Management LP bought a new stake in SELLAS Life Sciences Group in the 1st quarter worth about $315,000. Finally, Independent Financial Group LLC purchased a new stake in SELLAS Life Sciences Group in the 1st quarter valued at about $98,000. 17.38% of the stock is owned by hedge funds and other institutional investors.

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.