SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 4.8% – Here’s What Happened

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) were down 4.8% during trading on Friday . The stock traded as low as $12.99 and last traded at $12.8440. Approximately 1,915,600 shares were traded during mid-day trading, a decline of 76% from the average session volume of 8,117,275 shares. The stock had previously closed at $13.49.

Analyst Ratings Changes

A number of research firms recently commented on SLS. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Price Performance

The stock has a 50-day moving average of $12.78 and a 200-day moving average of $8.75. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -60.13 and a beta of 2.52.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its position in SELLAS Life Sciences Group by 43.1% during the second quarter. Tidal Investments LLC now owns 128,761 shares of the company’s stock worth $1,901,000 after purchasing an additional 38,754 shares during the period. Arizona State Retirement System bought a new position in SELLAS Life Sciences Group in the 2nd quarter valued at about $731,000. Nykredit A S bought a new position in SELLAS Life Sciences Group in the 2nd quarter valued at about $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of SELLAS Life Sciences Group in the 2nd quarter valued at approximately $257,000. Finally, California State Teachers Retirement System raised its position in shares of SELLAS Life Sciences Group by 31,891.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,987,040 shares of the company’s stock valued at $44,089,000 after buying an additional 2,977,703 shares in the last quarter. 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.