SLS Stock Hits Over 1-Month Low: Retail Bulls Double Down Before Cancer Data - Fresh Filings Show Q3 Stake Hikes Of Over 400%

(MENAFN- AsiaNet News)

• Creative Planning increased its Q3 holdings in Sellas by 422% to 368,727 shares.
• Regal reached its 80th event, triggering final analysis, with preliminary GPS survival results expected this quarter.
• Sellas also expects fourth-quarter Phase 2 results for SLS009 in newly diagnosed AML.

Sellas Life Sciences (SLS) shares hit their lowest level in more than a month on Monday, with retail bulls buying the dip ahead of cancer data as fresh disclosures showed several investment firms had increased their third-quarter holdings by as much as 422%.

SLS shares sank 12% to $8.55 on Monday, then slipped another 0.6% in extended trading.

Fresh Filings Reveal Big Q3 Sellas Bets

Creative Planning increased its Sellas holdings by 298,084 shares to 368,727 during the third quarter (Q3), a 422% jump, according to Fiscal ownership data disclosures from Monday. 

Kestra Advisory Services raised its stake by 89,445 shares to 124,425, an increase of 256%, while Principal Financial Group added 8,804 shares to hold 23,235, up 61%. On the other hand, Commonwealth Equity Services and Cambridge Investment Research Advisors reduced their positions during the quarter. 

Holder	Shares held as of Sept.30	Q3 share change	Q3 change
Creative Planning	368,727	298,084	422%
Kestra Advisory Services	124,425	89,445	256%
Commonwealth Equity Services	40,116	-4,971	-11%
Principal Financial Group	23,235	8804	61%
Cambridge Investment Research Advisors	15,104	-1059	-7%

Sellas Heads Toward Key Cancer Results

Sellas' key Phase 3 Regal trial is moving into final analysis. The company announced last week that the study had reached its prespecified 80th event, meaning 80 deaths across the trial. Regal is testing Galinpepimut-S (GPS) as a maintenance treatment for acute myeloid leukemia (AML) patients in second complete remission. Its primary goal is to determine whether GPS improves overall survival.“Reaching the 80th event represents a critical milestone in the REGAL trial,” CEO Angelos Stergiou said.

Sellas will now proceed with database lock, unblinding and statistical analysis, with preliminary topline results expected in the fourth quarter. The company has not announced a specific release date.

Sellas also expects another cancer-data update this quarter. In August, the company said topline results from its Phase 2 study of SLS009, or Tambiciclib, in newly diagnosed AML are due in the fourth quarter. The drug's potential extends beyond leukemia. In September, Sellas reported activity in patient-derived pancreatic-cancer models, supporting further research. 

How Do Retail Traders Feel About SLS?

Stocktwits sentiment for SLS jumped to 'extremely bullish' from 'bullish' levels a week ago amid over a 400% surge in 24-hour message volumes. 

SLS sentiment and message volume as of November 2 | Source: Stocktwits

One user said,“I nabbed another 1k shares today!” Another user said,“Phase 2 was amazing and I expect phase 3 to be even better!”

View this Stocktwits post

A separate user said,“The real pressure was the waiting, not the number on the screen. When the data finally drops, this price will look cheap.” Another user said,“I'm betting we are witnessing warrants being exercised, shorts covering, and paper hands selling.”

View this Stocktwits post

SLS stock has risen 127% year-to-date.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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