SLS Stock Logs Best Day In Over A Week: JPMorgan Buys In And Stifel Boosts Bet Ahead Of Key AML Data

Alliance Global lifted its SLS price target to $35 from $25, implying nearly 200% upside, and maintained a ‘Buy’ rating.

• JPMorgan opened a 100,135-share stake, while Stifel increased its holdings by nearly 8%.
• The Phase 3 Regal trial has recorded 78 of the 80 events required to trigger its final GPS analysis.
• Sellas has enrolled 28 of 80 patients in its Phase 2 SLS009 AML trial, with initial data expected in Q4.

Shares of Sellas Life Sciences (SLS) rallied to their strongest close in over a week on Wednesday as new institutional disclosures, encouraging clinical timelines and a higher Wall Street price target drew investor attention.

SLS stock jumped 7% on Wednesday but remained on track for a weekly decline, with shares down 2% so far this week. 

Big Investors Build SLS Stakes

JPMorgan Chase disclosed a new stake of 100,135 SLS shares valued at $1.48 million as of June 30. Stifel Financial increased its holdings by 883 shares, or nearly 8%, to 12,419 shares worth about $183,300, according to Quiver Quantitative. 

Meanwhile, Geode Capital Management bought 971,569 shares to lift its stake by nearly 25% to 4.88 million shares, valued at $72.1 million.

Zurich Cantonal Bank and KLP Kapitalforvaltning opened positions of 83,305 and 40,700 shares, respectively. Voya Investment Management raised its stake by more than 27%, and Integrated Wealth Concepts nearly doubled its holdings. Rhumblin Advisers, Profund Advisors and Prudential Financial also added shares. 

Simplex Trading, however, reduced its position by nearly 48% to 154,099 shares, while ProShare Advisors marginally trimmed its stake by 204 shares to 24,711 shares.

Alliance Global Sees 200% SLS Upside

The disclosures came after a bullish call from Alliance Global, which raised its price target on SLS to $35 from $25, implying nearly a 200% upside from current levels, and maintained a ‘Buy’ rating. The firm said SLS009 appears to be “the leader in the CDK9 race,” with potential applications in additional cancers.

Sellas has enrolled 28 of a planned 80 patients in a Phase 2 trial testing SLS009 in people newly diagnosed with acute myeloid leukemia (AML), including those whose cancer quickly stops responding to the commonly used drug combination of Azacitidine and Venetoclax. Enrollment and treatment are continuing, with initial results expected in the fourth quarter of 2026. 

The company is also exploring SLS009 as a treatment for solid tumors after laboratory studies showed it worked against pancreatic cancer cells that were largely resistant to widely used RAS-targeting drugs. Sellas said SLS009 appeared to work even better when combined with RAS inhibitors and plans to present the findings at an upcoming medical conference. 

Sellas Awaits 80th Regal Event

Investor attention remains centered on the Phase 3 Regal trial of Galinpepimut-S (GPS) in AML patients who achieved complete remission following second-line salvage therapy. The study has recorded 78 of the 80 events needed to trigger its final analysis. Once the 80th event occurs, Sellas will begin the customary database lock, blinded review, statistical analysis and unblinding process before releasing topline results.

Sellas has said the study would be considered successful if GPS extends median overall survival to 12.6 months, compared with eight months under standard treatment. “We are approaching the pre-specified 80th event in the Phase 3 REGAL trial, marking a critical step toward the final efficacy analysis and, if successful, a potential BLA submission to the FDA,” Stergiou said this week.

Sellas ended the second quarter with $138.3 million in cash and cash equivalents, strengthening its position as both lead programs approach major milestones. The quarterly net loss widened to $9.6 million from $6.6 million, although the per-share loss narrowed to $0.05 from $0.07.

How Do Retail Traders Feel About SLS?

On Stocktwits, retail sentiment for SLS slipped to ‘neutral’ from ‘bullish’ levels a day ago amid ‘normal’ message volume.

One user said, “$SLS One day all the speculation will come to an end here.  Might be very soon.  Might not.  The only things we’ll have left to say will be “Could I have done any more DD and tuned out all the noise?” and “Could I have bought more shares?”

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Another user speculated, “$SLS I agree with some of the thinking here that the 80th has already happened and Serg is keeping it under wraps while negotiating with the big guys.”

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SLS stock has rocketed 636% over the past year.

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