SELLAS Life Sciences Group Inc. [NASDAQ: SLS] stock went on an upward path that rose over 10.90% on Friday, amounting to a one-week price increase of more than 9.88%. The company report on July 31, 2020 that SELLAS Life Sciences Announces $9.2 Million Private Placement Priced At-The-Market.
Proceeds to be used to fund the ongoing Phase 3 Acute Myeloid Leukemia REGAL study.
SELLAS Life Sciences Group, Inc. (Nasdaq: SLS) (“SELLAS” or the “Company”), a late-stage clinical biopharmaceutical company focused on the development of novel cancer immunotherapies for a broad range of cancer indications, today announced that it has entered into securities purchase agreements with certain institutional and accredited investors to raise approximately $9.2 million through the private placement of up to 2,744,078 shares of its common stock and accompanying warrants to purchase an aggregate of 2,744,078 shares of common stock at a combined purchase price of $3.335 per share and accompanying warrant. The warrants will be exercisable immediately at an exercise price of $3.30 per share and will expire five years from the effective date. The closing of the private placement is expected to occur on August 4, 2020 and is subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreements.
Over the last 12 months, SLS stock dropped by -54.65%. The average equity rating for SLS stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $21.61 million, with 6.38 million shares outstanding and 6.29 million shares in the current float. Compared to the average trading volume of 178.96K shares, SLS stock reached a trading volume of 2985847 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on SELLAS Life Sciences Group Inc. [SLS]:
Oppenheimer have made an estimate for SELLAS Life Sciences Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 01, 2018. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on April 02, 2018, representing the official price target for SELLAS Life Sciences Group Inc. stock. Previously, the target price had yet another raise to $13, while Maxim Group analysts kept a Buy rating on SLS stock.
The Average True Range (ATR) for SELLAS Life Sciences Group Inc. is set at 0.29 The Price to Book ratio for the last quarter was 2.83, with the Price to Cash per share for the same quarter was set at 1.10.
SLS Stock Performance Analysis:
SELLAS Life Sciences Group Inc. [SLS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.88. With this latest performance, SLS shares gained by 26.24% in over the last four-week period, additionally plugging by 27.60% over the last 6 months – not to mention a drop of -54.65% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SLS stock in for the last two-week period is set at 62.03, with the RSI for the last a single of trading hit 70.42, and the three-weeks RSI is set at 60.35 for SELLAS Life Sciences Group Inc. [SLS]. The present Moving Average for the last 50 days of trading for this stock 3.24, while it was recorded at 3.34 for the last single week of trading, and 3.38 for the last 200 days.
Insight into SELLAS Life Sciences Group Inc. Fundamentals:
Return on Total Capital for SLS is now -297.85, given the latest momentum, and Return on Invested Capital for the company is -344.59. Return on Equity for this stock declined to -344.59, with Return on Assets sitting at -111.78. When it comes to the capital structure of this company, SELLAS Life Sciences Group Inc. [SLS] has a Total Debt to Total Equity ratio set at 3.56. Additionally, SLS Total Debt to Total Capital is recorded at 3.44, with Total Debt to Total Assets ending up at 1.31.
Reflecting on the efficiency of the workforce at the company, SELLAS Life Sciences Group Inc. [SLS] managed to generate an average of -$3,907,000 per employee.SELLAS Life Sciences Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.
SLS Stock EPS
With the latest financial reports released by the company, SELLAS Life Sciences Group Inc. posted -11/share EPS, while the average EPS was predicted by analysts to be reported at -10.25/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SLS.
SELLAS Life Sciences Group Inc. [SLS] Insider Position Details
There are presently around $1 million, or 14.60% of SLS stock, in the hands of institutional investors. The top three institutional holders of SLS stocks are: VANGUARD GROUP INC with ownership of 159,108, which is approximately -0.432% of the company’s market cap and around 2.20% of the total institutional ownership; BLACKROCK INC., holding 100,424 shares of the stock with an approximate value of $0.36 million in SLS stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.19 million in SLS stock with ownership of nearly 1.805% of the company’s market capitalization.
Positions in SELLAS Life Sciences Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 9 institutional holders increased their position in SELLAS Life Sciences Group Inc. [NASDAQ:SLS] by around 79,888 shares. Additionally, 3 investors decreased positions by around 52,798 shares, while 5 investors held positions by with 283,410 shares. The mentioned changes placed institutional holdings at 416,096 shares, according to the latest SEC report filing. SLS stock had 7 new institutional investments in for a total of 37,934 shares, while 2 institutional investors sold positions of 52,108 shares during the same period.