SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Down – Time to Sell?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $11.66, but opened at $11.31. SELLAS Life Sciences Group shares last traded at $11.4120, with a volume of 916,056 shares.

Analysts Set New Price Targets

SLS has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Alliance Global Partners restated a “buy” rating on shares of SELLAS Life Sciences Group in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

SELLAS Life Sciences Group Trading Down 0.3%

The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -54.71 and a beta of 2.52. The stock’s 50-day moving average is $12.52 and its 200-day moving average is $9.00.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued 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).

Institutional Investors Weigh In On SELLAS Life Sciences Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC grew its position in SELLAS Life Sciences Group by 43.1% during the 2nd quarter. Tidal Investments LLC now owns 128,761 shares of the company’s stock worth $1,901,000 after acquiring an additional 38,754 shares during the last quarter. Arizona State Retirement System bought a new position in SELLAS Life Sciences Group in the second quarter valued at about $731,000. Nykredit A S acquired a new stake in shares of SELLAS Life Sciences Group during the second quarter valued at about $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of SELLAS Life Sciences Group during the second quarter valued at about $257,000. Finally, Wellington Management Group LLP grew its holdings in shares of SELLAS Life Sciences Group by 73.2% during the second quarter. Wellington Management Group LLP now owns 597,309 shares of the company’s stock worth $8,816,000 after purchasing an additional 252,531 shares during the last quarter. Institutional investors 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 developing novel therapies for cancer. The company’s research programs are aimed at treating hematologic malignancies and solid tumors through immunotherapy and targeted drug development.

SELLAS’s lead immunotherapy candidate is galinpepimut-S, or GPS, an investigational peptide vaccine designed to stimulate an immune response against Wilms’ tumor 1 (WT1), a protein associated with several cancers.