SLS, IBRX Rise Premarket: Funds Raise Their Bets As J&J Stays ‘On The Lookout’ For Deals

• Gamma Investing increased its Sellas stake by 293%, while Courier Capital doubled its ImmunityBio holding to about $1.06 million.
• Everhart reported a $2.96 million Sellas position, while Hennion & Walsh held $3.67 million in ImmunityBio.
• J&J’s Inlexzo generated over $90 million in quarterly sales, providing a competitive benchmark for ImmunityBio.

Shares of Sellas Life Sciences (SLS) and ImmunityBio (IBRX) edged higher premarket on Wednesday as investors weighed fresh ownership disclosures alongside Johnson & Johnson’s plans to strengthen its cancer-drug business through strategic deals.

SLS stock gained about 0.8% in premarket trading, while IBRX rose 0.3%. 

Fresh Filings Reveal Bigger Bets On SLS And IBRX

Recent ownership disclosures showed several investors increasing their positions in both companies for the quarter ended Sept. 30. In Sellas, Everhart Financial Group reported 240,213 shares valued at about $2.96 million. Independent Financial Group increased its holding by 3% to 24,000 shares worth $295,440.

Gamma Investing raised its SLS stake by 293% to 2,186 shares. Financial Designs moved in the opposite direction, cutting its position by 17.75% to 19,186 shares valued at $236,180.

In ImmunityBio, Courier Capital doubled its stake to 112,000 shares worth $1.06 million, adding 56,000 shares. Hennion & Walsh Asset Management increased its holding by 1.45% to 409,749 shares valued at about $3.67 million. B. Riley Wealth Advisors reported an unchanged IBRX stake of 113,000 shares worth $1.07 million.

J&J Outlines Deal Strategy As It Expands Cancer Business 

J&J CFO Joe Wolk said that the company is interested in assets that could complement its business. “We always are on the lookout for strategic drivers that could complement our business that makes sense to be in our hands versus where the asset would currently reside, but also creates value for the risk we are bearing on behalf of shareholders,” Wolk said during the call.

J&J has already expanded its cancer pipeline through its $1 billion cash acquisition of Firefly Bio, completed in July. The deal added tech designed to deliver protein-degrading treatments directly to cancer cells, including those driven by KRAS mutations.

CEO Joaquin Duato outlined the company’s broader goal: “Our ambition is to become the number one oncology company by 2030, with sales projected to exceed $50 billion,” he said. J&J ended the quarter with $17 billion in cash and marketable securities against about $45 billion in debt. It generated over $6 billion in quarterly free cash flow and maintained its full-year forecast of $21 billion.

Wolk nevertheless clarified that J&J’s forecast for double-digit growth by the end of the decade rests on internal investments rather than future acquisitions. “It does not assume any inorganic additions at this moment in time,” he said.

The call also gave a competitive update for ImmunityBio investors. Tom Cavanaugh, J&J’s worldwide chairman of Innovative Medicine, said bladder-cancer treatment Inlexzo generated more than $90 million in third-quarter sales, with new patient inserts rising 45% from the previous quarter. The firm said it sees a sales opportunity exceeding $5 billion for the broader platform as it pursues additional patient populations.

SLS And IBRX Catalyst Watch

Sellas is awaiting the final analysis of its Phase 3 Regal trial, which tests cancer-vaccine candidate Galinpepimut-S in acute myeloid leukemia (AML) patients in second complete remission. The analysis requires 80 deaths, up from the last reported 78, and will be followed by data verification before results are released. 

Meanwhile, initial Phase 2 results for SLS009, also called Tambiciclib, in newly diagnosed AML patients are expected in the fourth quarter. 

ImmunityBio is focused on expanding Anktiva’s reach. The immunotherapy is approved or authorized across 34 countries, and second-quarter net product revenue rose 92% year-over-year to $50.7 million. A Food and Drug Administration (FDA) decision is expected by Jan. 6, 2027, on expanding Anktiva plus Bacillus Calmette-Guérin (BCG) to patients with BCG-unresponsive bladder cancer involving papillary tumors without carcinoma in situ.

How Do Retail Traders Feel About SLS And IBRX?

On Stocktwits, SLS sentiment was 'bearish' amid 'high' message volume, while IBRX sentiment was 'neutral' amid 'low' message volume. 

“Guys it’s a sign. JnJ locked in!” one SLS user said. Another asked, “When would the buyout be?”

On ImmunityBio’s feed, discussion of J&J focused on rival Inlexzo. One user questioned whether J&J had disclosed the drug’s sales and cited analyst estimates around $70 million. 

So far this year, IBRX has surged 395%, while SLS has gained 229%. 

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