SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Expected to Rise, Maxim Group Analyst Says

SELLAS Life Sciences Group (NASDAQ:SLS) had its price objective hoisted by equities research analysts at Maxim Group from $4.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price objective would indicate a potential upside of 268.42% from the stock’s current price.

SELLAS Life Sciences Group Stock Performance

SELLAS Life Sciences Group stock opened at $1.90 on Wednesday. The firm’s fifty day moving average price is $1.78 and its 200-day moving average price is $1.41. The stock has a market cap of $189.58 million, a P/E ratio of -5.00 and a beta of 2.31. SELLAS Life Sciences Group has a fifty-two week low of $0.77 and a fifty-two week high of $2.27.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, analysts predict that SELLAS Life Sciences Group will post -0.57 earnings per share for the current year.

Insider Activity at SELLAS Life Sciences Group

In related news, Director Jane Wasman bought 20,000 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was purchased at an average cost of $1.69 per share, with a total value of $33,800.00. Following the transaction, the director owned 30,400 shares in the company, valued at approximately $51,376. This trade represents a 192.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On SELLAS Life Sciences Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Anson Funds Management LP raised its holdings in SELLAS Life Sciences Group by 535.7% in the first quarter. Anson Funds Management LP now owns 7,579,095 shares of the company’s stock worth $8,185,000 after buying an additional 6,386,829 shares during the last quarter. Virtu Financial LLC grew its position in SELLAS Life Sciences Group by 30.9% during the first quarter. Virtu Financial LLC now owns 53,861 shares of the company’s stock valued at $58,000 after buying an additional 12,706 shares during the period. Brooklyn FI LLC bought a new stake in SELLAS Life Sciences Group during the fourth quarter valued at approximately $677,000. Northern Trust Corp boosted its position in shares of SELLAS Life Sciences Group by 33.6% in the fourth quarter. Northern Trust Corp now owns 134,721 shares of the company’s stock worth $140,000 after purchasing an additional 33,878 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of SELLAS Life Sciences Group by 21.2% in the fourth quarter. Geode Capital Management LLC now owns 733,546 shares of the company’s stock worth $763,000 after purchasing an additional 128,355 shares during the period. 17.38% of the stock is owned by hedge funds and other institutional investors.

SELLAS Life Sciences Group Company Profile

SELLAS Life Sciences Group, Inc, a late-stage clinical biopharmaceutical company, focuses on the development of novel cancer immunotherapies for various cancer indications in the United States. The company’s lead product candidate is galinpepimut-S (GPS), a cancer immunotherapeutic agent that targets Wilms tumor 1, which is in Phase 3 clinical trials for the treatment of acute myeloid leukemia; and in Phase 1/2 clinical trials for the treatment for ovarian cancer.