SELLAS Life Sciences Group (NASDAQ:SLS) Stock Price Down 1.8% – What’s Next?

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS)’s stock price dropped 1.8% during mid-day trading on Wednesday . The stock traded as low as $1.65 and last traded at $1.66. Approximately 1,169,980 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 2,730,437 shares. The stock had previously closed at $1.69.

Analyst Upgrades and Downgrades

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

SELLAS Life Sciences Group Price Performance

The company has a 50-day simple moving average of $1.80 and a 200-day simple moving average of $1.46. The stock has a market cap of $165.63 million, a PE ratio of -4.37 and a beta of 2.31.

SELLAS Life Sciences Group (NASDAQ:SLS) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. On average, equities analysts expect that SELLAS Life Sciences Group, Inc. will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling at SELLAS Life Sciences Group

In other news, Director Jane Wasman purchased 20,000 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was acquired at an average price of $1.69 per share, for a total transaction of $33,800.00. Following the completion of the transaction, the director directly owned 30,400 shares in the company, valued at $51,376. This represents a 192.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SLS. Anson Funds Management LP lifted its holdings in shares of SELLAS Life Sciences Group by 535.7% during the first quarter. Anson Funds Management LP now owns 7,579,095 shares of the company’s stock valued at $8,185,000 after purchasing an additional 6,386,829 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SELLAS Life Sciences Group by 21.2% during the fourth quarter. Geode Capital Management LLC now owns 733,546 shares of the company’s stock valued at $763,000 after purchasing an additional 128,355 shares during the last quarter. Brooklyn FI LLC purchased a new stake in shares of SELLAS Life Sciences Group during the fourth quarter valued at $677,000. Northern Trust Corp lifted its holdings in shares of SELLAS Life Sciences Group by 33.6% during the fourth quarter. Northern Trust Corp now owns 134,721 shares of the company’s stock valued at $140,000 after purchasing an additional 33,878 shares during the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of SELLAS Life Sciences Group by 30.9% during the first 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. Institutional investors own 17.38% of the company’s stock.

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.