SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Up 10% – Still a Buy?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares traded up 10% on Friday . The company traded as high as $14.90 and last traded at $14.74. 4,624,310 shares were traded during mid-day trading, a decline of 44% from the average session volume of 8,185,436 shares. The stock had previously closed at $13.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLS. Weiss Ratings restated a “sell (d-)” rating on shares of SELLAS Life Sciences Group in a research report on Friday, July 17th. Alliance Global Partners reaffirmed a “buy” rating on shares of SELLAS Life Sciences Group in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.

SELLAS Life Sciences Group Stock Performance

The stock has a market cap of $3.09 billion, a P/E ratio of -72.76 and a beta of 2.48. The stock’s fifty day moving average is $11.69 and its 200 day moving average is $7.67.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01).

Institutional Investors Weigh In On SELLAS Life Sciences Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nykredit A S purchased a new position in SELLAS Life Sciences Group during the 2nd quarter valued at $27,000. Larson Financial Group LLC purchased a new stake in shares of SELLAS Life Sciences Group during the fourth quarter valued at $26,000. California State Teachers Retirement System grew its holdings in shares of SELLAS Life Sciences Group by 22.4% in the first quarter. California State Teachers Retirement System now owns 9,337 shares of the company’s stock worth $39,000 after purchasing an additional 1,709 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in shares of SELLAS Life Sciences Group in the fourth quarter worth about $38,000. Finally, Concurrent Investment Advisors LLC purchased a new position in SELLAS Life Sciences Group in the 4th quarter worth about $38,000. 17.38% of the stock is currently owned by hedge funds and other institutional investors.

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.