SELLAS Life Sciences Group (NASDAQ:SLS) Shares Up 8.5% – What’s Next?

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) traded up 8.5% on Monday . The company traded as high as $8.79 and last traded at $8.7310. Approximately 2,294,352 shares were traded during mid-day trading, a decline of 71% from the average session volume of 8,000,304 shares. The stock had previously closed at $8.05.

Analysts Set New Price Targets

Several brokerages have commented on SLS. Weiss Ratings reissued a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Maxim Group upped their price objective 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. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

SELLAS Life Sciences Group Stock Up 7.4%

The stock has a 50-day moving average price of $6.64 and a 200 day moving average price of $4.89. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -37.63 and a beta of 2.50.

SELLAS Life Sciences Group (NASDAQ:SLS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several institutional investors have recently modified their holdings of SLS. Geode Capital Management LLC grew its stake in shares of SELLAS Life Sciences Group by 168.2% during the second quarter. Geode Capital Management LLC now owns 2,200,428 shares of the company’s stock worth $4,819,000 after purchasing an additional 1,379,988 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in SELLAS Life Sciences Group during the 2nd quarter worth about $136,000. Rhumbline Advisers acquired a new position in shares of SELLAS Life Sciences Group during the 2nd quarter worth about $297,000. XTX Topco Ltd acquired a new position in shares of SELLAS Life Sciences Group during the 2nd quarter worth about $168,000. Finally, New York State Common Retirement Fund purchased a new position in shares of SELLAS Life Sciences Group in the 2nd quarter valued at about $108,000. 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.