SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Down – Here’s Why

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.76, but opened at $3.61. SELLAS Life Sciences Group shares last traded at $3.6150, with a volume of 1,096,005 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.00.

SELLAS Life Sciences Group Stock Up 1.1%

The stock has a fifty day moving average price of $3.43 and a 200 day moving average price of $2.32.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. As a group, research analysts forecast that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current year.

Insider Activity

In other news, Director Katherine Bach Kalin purchased 63,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $1.59 per share, with a total value of $100,806.00. Following the purchase, the director owned 104,400 shares in the company, valued at approximately $165,996. This trade represents a 154.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On SELLAS Life Sciences Group

A number of institutional investors have recently modified their holdings of SLS. Grange Capital LLC boosted its holdings in shares of SELLAS Life Sciences Group by 18.5% in the fourth quarter. Grange Capital LLC now owns 16,001 shares of the company’s stock valued at $60,000 after purchasing an additional 2,500 shares during the period. The Manufacturers Life Insurance Company raised its position in SELLAS Life Sciences Group by 13.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 38,018 shares of the company’s stock valued at $143,000 after purchasing an additional 4,564 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of SELLAS Life Sciences Group by 31.5% in the 4th quarter. ProShare Advisors LLC now owns 22,638 shares of the company’s stock worth $85,000 after buying an additional 5,417 shares during the period. CWM LLC grew its position in shares of SELLAS Life Sciences Group by 124.7% during the 4th quarter. CWM LLC now owns 11,782 shares of the company’s stock worth $44,000 after buying an additional 6,538 shares in the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of SELLAS Life Sciences Group during the 4th quarter worth $26,000. 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.