SELLAS Life Sciences Group (NASDAQ:SLS) Shares Down 9.2% – Should You Sell?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price traded down 9.2% during trading on Monday . The stock traded as low as $1.67 and last traded at $1.68. 3,277,030 shares traded hands during trading, an increase of 75% from the average session volume of 1,875,405 shares. The stock had previously closed at $1.85.

Wall Street Analyst Weigh In

Separately, Maxim Group boosted their target price on SELLAS Life Sciences Group from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $7.00.

SELLAS Life Sciences Group Trading Down 9.2%

The stock has a market capitalization of $176.90 million, a PE ratio of -5.25 and a beta of 2.54. The firm’s 50-day simple moving average is $1.79 and its two-hundred day simple moving average is $1.59.

SELLAS Life Sciences Group (NASDAQ:SLS) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. As a group, research analysts expect that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL purchased a new position in SELLAS Life Sciences Group during the 2nd quarter worth approximately $35,000. ProShare Advisors LLC acquired a new stake in shares of SELLAS Life Sciences Group during the 2nd quarter valued at $43,000. Simon Quick Advisors LLC acquired a new stake in shares of SELLAS Life Sciences Group during the 2nd quarter valued at $44,000. Great Valley Advisor Group Inc. acquired a new stake in shares of SELLAS Life Sciences Group during the 2nd quarter valued at $44,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of SELLAS Life Sciences Group during the 2nd quarter valued at $51,000. 17.38% of the stock is currently 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.