SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Down – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $10.49, but opened at $10.05. SELLAS Life Sciences Group shares last traded at $10.8220, with a volume of 573,523 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SLS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday. Alliance Global Partners reissued a “buy” rating on shares of SELLAS Life Sciences Group in a report on Wednesday, August 12th. Two equities research 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 an average rating of “Hold” and an average target price of $10.00.

SELLAS Life Sciences Group Stock Performance

The stock has a fifty day moving average of $12.45 and a 200 day moving average of $9.98. The company has a market capitalization of $2.33 billion, a PE ratio of -54.86 and a beta of 2.56.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its quarterly earnings results 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).

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in 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 valued at $2,714,000 after acquiring an additional 540,748 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in SELLAS Life Sciences Group in the 2nd quarter worth $7,823,000. Dagco Inc. lifted its stake in SELLAS Life Sciences Group by 78.1% in the 1st quarter. Dagco Inc. now owns 1,028,780 shares of the company’s stock worth $4,352,000 after purchasing an additional 451,240 shares in the last quarter. Wellington Management Group LLP lifted its stake in SELLAS Life Sciences Group by 73.2% in the 2nd 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 in the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of SELLAS Life Sciences Group during the 1st quarter valued at about $315,000. 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 cancer therapies. The company’s research and development programs are centered on treatments designed to stimulate or restore the immune system’s ability to recognize and attack cancer cells, as well as targeted therapies for hematologic malignancies.

SELLAS’ lead product candidate is galinpepimut-S (GPS), a multi-peptide immunotherapeutic targeting Wilms’ tumor 1 (WT1), a protein expressed in multiple types of cancer.