SELLAS Life Sciences Group (NASDAQ:SLS) Shares Gap Up on Earnings Beat

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $5.20, but opened at $5.60. SELLAS Life Sciences Group shares last traded at $5.4990, with a volume of 2,307,376 shares traded.

The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SLS shares. Maxim Group raised their price objective on shares of SELLAS Life Sciences Group from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several institutional investors have recently bought and sold shares of SLS. Everhart Financial Group Inc. acquired a new stake in shares of SELLAS Life Sciences Group in the 3rd quarter valued at approximately $533,000. Anson Funds Management LP raised its position 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 worth $9,713,000 after acquiring an additional 5,757,938 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in SELLAS Life Sciences Group in the third quarter valued at $26,000. GSA Capital Partners LLP boosted its position in shares of SELLAS Life Sciences Group by 21.7% during the 3rd quarter. GSA Capital Partners LLP now owns 518,995 shares of the company’s stock worth $836,000 after purchasing an additional 92,411 shares in the last quarter. Finally, Tyche Wealth Partners LLC purchased a new stake in shares of SELLAS Life Sciences Group during the 3rd quarter worth $60,000. 17.38% of the stock is owned by institutional investors and hedge funds.

SELLAS Life Sciences Group Trading Down 8.5%

The stock’s 50 day moving average price is $4.45 and its two-hundred day moving average price is $2.89. The firm has a market capitalization of $678.01 million, a price-to-earnings ratio of -19.04 and a beta of 2.18.

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.