Traders Purchase Large Volume of Call Options on SELLAS Life Sciences Group (NASDAQ:SLS)

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) was the target of unusually large options trading on Tuesday. Investors purchased 41,153 call options on the stock. This is an increase of 54% compared to the typical volume of 26,799 call options.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Tuesday, April 21st. Maxim Group lifted their price objective on SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

Institutional Trading of SELLAS Life Sciences Group

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of SELLAS Life Sciences Group by 535.7% during 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 period. California State Teachers Retirement System grew its holdings in SELLAS Life Sciences Group by 22.4% in 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 period. The Manufacturers Life Insurance Company increased its stake in SELLAS Life Sciences Group by 20.2% in the first quarter. The Manufacturers Life Insurance Company now owns 45,691 shares of the company’s stock valued at $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 first quarter valued at $315,000. Finally, Independent Financial Group LLC acquired a new position in shares of SELLAS Life Sciences Group during the first quarter valued at about $98,000. Institutional investors own 17.38% of the company’s stock.

SELLAS Life Sciences Group Stock Up 6.3%

SELLAS Life Sciences Group stock traded up $0.54 during trading hours on Tuesday, reaching $9.07. 7,204,963 shares of the company’s stock were exchanged, compared to its average volume of 8,047,852. The firm’s 50 day simple moving average is $6.70 and its 200 day simple moving average is $4.94. SELLAS Life Sciences Group has a twelve month low of $1.39 and a twelve month high of $9.51. The firm has a market capitalization of $1.78 billion, a PE ratio of -39.43 and a beta of 2.50.

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

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.