SLS Stock Jumps Premarket: Retail Bulls Chase Morgan Stanley, Mirae Buying Signal Ahead Of Conference Season

• Morgan Stanley increased its SLS stake by nearly 50% during the first quarter, while Mirae Asset Global ETFs raised its position by more than 70%.
• Sellas’ Phase 3 Regal AML trial reached 78 events as of May 11, leaving only two events before the study reaches the threshold for topline data analysis.
• Beyond Regal, traders are increasingly tracking SLS009, Sellas’ second AML-focused program.

Shares of Sellas Life Sciences (SLS) jumped 4% in premarket trading on Monday as fresh filings showing stake increases from Morgan Stanley and Mirae Asset Global Investments added to growing retail excitement around the company’s looming acute myeloid leukemia (AML) catalyst.

SLS stock logged its strongest weekly performance in over four months after surging 41% last week.

Morgan Stanley, Mirae Add SLS Shares

Morgan Stanley disclosed on Saturday that it increased its SLS stake by nearly 50% during the first quarter, adding more than 445,000 shares and lifting total holdings to 1.34 million shares valued at $5.65 million. Mirae Asset Global ETFs also raised its position by over 70%, while Manufacturers Life Insurance expanded its stake by 20%.

Fresh filings also pointed to new positions from firms including Tidal Investments and Quantinno Capital Management. Meanwhile, several funds also reduced exposure during the quarter. Millennium Management cut its SLS holdings by over 88%, while Two Sigma Investments and Two Sigma Securities also lowered positions.

During the quarter, BlackRock also increased its SLS by 62%, adding 4.7 million shares and lifting its position to 12.2 million shares valued at $51.6 million. According to Fiscal AI data, major institutional holders in Sellas additionally include The Vanguard Group, Geode Capital Management, State Street Global Advisors, Millennium Management and Morgan Stanley.

SLS Nears Key AML Data Catalyst

Investor attention has remained heavily focused on Sellas’ Phase 3 Regal trial evaluating galinpepimut-S (GSP) in AML who entered remission after second-line salvage therapy. The company recently disclosed that the study reached 78 events as of May 11, leaving just two events remaining before the trial hits the required threshold for final analysis and topline data release.

Once the study reaches the 80-event mark, Sellas plans to proceed with database lock procedures, blinded review and eventual unblinding before publishing topline findings. The company said it remains blinded to the results.

CEO Angelos Stergiou recently called the waiting period as “the hardest part for any CEO,” while also signaling that preparations for database lock and unblinding were already underway.

Investors Watch Upcoming SLS Presentations

The rally also comes amid a packed investor-conference schedule this month that traders increasingly view as a potential platform for additional pipeline commentary and regulatory updates. Sellas is scheduled to participate in the Stifel Virtual Targeted Oncology Forum on May 19, A.G.P.’s Annual Virtual Healthcare Conference on May 20 and TD Cowen’s 7th Annual Oncology Innovation Summit on May 27.

“These events provide a valuable opportunity to discuss our continued clinical progress, upcoming milestones, and our commitment to advancing innovative therapies for patients with cancer,” Stergiou said.

Traders Track SLS009 AML Program

Beyond the Regal trial, investors are also increasingly tracking momentum around Sellas’ second AML-focused program, SLS009. The company has already begun dosing patients in a Phase 2 study evaluating SLS009 in newly diagnosed high-risk AML patients carrying TP53 and ASXL1 mutations, which are patient groups typically associated with poor outcomes under standard treatment approaches.

Recent research presented by Sellas showed SLS009 rapidly triggered AML cell death, while suppressing proteins linked to leukemia survival and progression.

Sellas ended the first quarter with roughly $107.1 million in cash and cash equivalents. The company also received an additional $7.5 million from warrant exercises during the second quarter and established a new at-the-market equity facility that could allow it to raise up to $150 million over time, though no shares have yet been sold under the program.

How Do Retail Traders Feel About SLS?

On Stocktwits, retail sentiment for SLS was ‘extremely bullish’ amid a 114% jump in chatter over the past week.

One user noted that, “Institutional oncology funds spend the weeks leading up to these conferences repositioning, deciding which names they want exposure to before major data hits.”

Another user said, “Tutes [Institutes] may drop it to buy back in cheaper and get more shares due to the rumour. Dont ever touch that sell button if it goes red, but buy more like the tutes. Follow the money!! If its green, HOLD snd stay the course. Enjoy.”

SLS stock has surged 343% over the past year. 

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