SELLAS Life Sciences Group (NASDAQ:SLS) Trading 8.8% Higher – Still a Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares rose 8.8% during trading on Thursday . The company traded as high as $14.76 and last traded at $14.9390. Approximately 1,091,829 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 8,193,203 shares. The stock had previously closed at $13.73.

Analyst Ratings Changes

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

SELLAS Life Sciences Group Stock Up 11.8%

The company has a market capitalization of $3.10 billion, a P/E ratio of -72.76 and a beta of 2.48. The business has a fifty day moving average price of $12.23 and a 200 day moving average price of $7.97.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01).

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several hedge funds and other institutional investors have recently made changes to their positions in SLS. Geode Capital Management LLC raised its position in 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 acquiring an additional 1,379,988 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in SELLAS Life Sciences Group in the second quarter valued at $136,000. Rhumbline Advisers bought a new position in shares of SELLAS Life Sciences Group in the 2nd quarter valued at about $297,000. XTX Topco Ltd bought a new position in shares of SELLAS Life Sciences Group in the 2nd quarter valued at about $168,000. Finally, New York State Common Retirement Fund acquired a new position in shares of SELLAS Life Sciences Group during the 2nd quarter worth about $108,000. 17.38% of the stock is owned by 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.