SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $3.31, but opened at $3.46. SELLAS Life Sciences Group shares last traded at $3.5950, with a volume of 11,566,353 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SELLAS Life Sciences Group has an average rating of “Hold” and an average target price of $7.00.

SELLAS Life Sciences Group Price Performance

The company has a market capitalization of $537.00 million, a P/E ratio of -13.46 and a beta of 2.25. The business’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $1.87.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Research analysts expect that SELLAS Life Sciences Group, Inc. will post -0.57 earnings per share for the current fiscal year.

Insider Activity

In other SELLAS Life Sciences Group news, Director Katherine Bach Kalin purchased 63,400 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were bought at an average price of $1.59 per share, with a total value of $100,806.00. Following the completion of the transaction, the director directly owned 104,400 shares in the company, valued at $165,996. This trade represents a 154.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several institutional investors and hedge funds have recently modified their holdings of SLS. Bank of America Corp DE increased its stake in SELLAS Life Sciences Group by 21.9% during the 3rd quarter. Bank of America Corp DE now owns 42,150 shares of the company’s stock worth $68,000 after purchasing an additional 7,571 shares in the last quarter. Anson Funds Management LP lifted its stake in SELLAS Life Sciences Group by 2,093.8% in the third quarter. Anson Funds Management LP now owns 6,032,938 shares of the company’s stock valued at $9,713,000 after buying an additional 5,757,938 shares in the last quarter. Equitable Holdings Inc. boosted its holdings in shares of SELLAS Life Sciences Group by 58.6% in the third quarter. Equitable Holdings Inc. now owns 27,060 shares of the company’s stock valued at $44,000 after buying an additional 10,000 shares during the period. Squarepoint Ops LLC increased its position in shares of SELLAS Life Sciences Group by 186.4% during the third quarter. Squarepoint Ops LLC now owns 46,180 shares of the company’s stock worth $74,000 after acquiring an additional 30,058 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of SELLAS Life Sciences Group during the third quarter worth $43,000. 17.38% of the stock is currently owned by institutional investors and hedge funds.

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.