Investors Purchase Large Volume of Call Options on SELLAS Life Sciences Group (NASDAQ:SLS)

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) saw unusually large options trading activity on Tuesday. Stock traders bought 19,634 call options on the company. This is an increase of 325% compared to the average daily volume of 4,623 call options.

SELLAS Life Sciences Group Stock Performance

NASDAQ:SLS opened at $1.66 on Thursday. The company has a 50-day moving average of $1.80 and a 200-day moving average of $1.46. The company has a market capitalization of $165.63 million, a price-to-earnings ratio of -4.37 and a beta of 2.31. SELLAS Life Sciences Group has a 52 week low of $0.77 and a 52 week high of $2.27.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Sell-side analysts forecast that SELLAS Life Sciences Group will post -0.57 EPS for the current year.

Insider Activity at SELLAS Life Sciences Group

In other SELLAS Life Sciences Group news, Director Jane Wasman acquired 20,000 shares of SELLAS Life Sciences Group stock in a transaction dated Friday, May 30th. The stock was bought at an average cost of $1.69 per share, with a total value of $33,800.00. Following the acquisition, the director owned 30,400 shares of the company’s stock, valued at approximately $51,376. The trade was a 192.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On SELLAS Life Sciences Group

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its holdings in SELLAS Life Sciences Group by 30.9% during the 1st quarter. Virtu Financial LLC now owns 53,861 shares of the company’s stock valued at $58,000 after purchasing an additional 12,706 shares during the last quarter. Blair William & Co. IL acquired a new stake in SELLAS Life Sciences Group in the 2nd quarter valued at about $35,000. Northern Trust Corp increased its position in SELLAS Life Sciences Group by 33.6% in the 4th quarter. Northern Trust Corp now owns 134,721 shares of the company’s stock valued at $140,000 after acquiring an additional 33,878 shares in the last quarter. Geode Capital Management LLC increased its position in SELLAS Life Sciences Group by 21.2% in the 4th quarter. Geode Capital Management LLC now owns 733,546 shares of the company’s stock valued at $763,000 after acquiring an additional 128,355 shares in the last quarter. Finally, Anson Funds Management LP increased its position in SELLAS Life Sciences Group by 50.2% in the 4th quarter. Anson Funds Management LP now owns 1,192,266 shares of the company’s stock valued at $1,240,000 after acquiring an additional 398,431 shares in the last quarter. 17.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Maxim Group raised their price objective on shares of SELLAS Life Sciences Group from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th.

About SELLAS Life Sciences Group

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.