SELLAS Life Sciences Group (NASDAQ:SLS) Trading 9.3% Higher – Here’s What Happened

Shares of SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) rose 9.3% on Friday . The company traded as high as $5.50 and last traded at $5.4970. Approximately 2,028,063 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 8,385,827 shares. The stock had previously closed at $5.03.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a 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 MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

SELLAS Life Sciences Group Stock Up 6.8%

The stock has a 50-day moving average price of $4.35 and a 200 day moving average price of $2.79. The firm has a market capitalization of $764.90 million, a price-to-earnings ratio of -19.18 and a beta of 2.18.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors acquired a new stake in SELLAS Life Sciences Group during the fourth quarter worth approximately $166,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of SELLAS Life Sciences Group by 408.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 55,129 shares of the company’s stock valued at $208,000 after buying an additional 44,296 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of SELLAS Life Sciences Group by 6.2% in the 4th quarter. Invesco Ltd. now owns 53,293 shares of the company’s stock valued at $201,000 after buying an additional 3,114 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of SELLAS Life Sciences Group by 121.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 35,370 shares of the company’s stock valued at $133,000 after buying an additional 19,370 shares during the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of SELLAS Life Sciences Group in the 4th quarter valued at $38,000. 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 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.