SLS Stock Rises After-Hours: State Street Reveals Over 5% Stake — And One Fund Manager Boosted Holdings By Nearly 1,000%

• State Street reported a 5.1% stake comprising 10.37 million shares, down about 20% from June 30.
• Voya, FMR, UBS and Nuveen increased their holdings, while Zurcher Kantonalbank and William Blair trimmed their positions.
• Sellas expects fourth-quarter Regal results after the Phase 3 study reached its 80th event, triggering final analysis.

Shares of Sellas Life Sciences Group (SLS) rose nearly 1% after hours on Tuesday as big-money disclosures drew attention, with State Street reporting a 5.1% stake and Victory Capital revealing a nearly 1,000% increase in holdings ahead of a key leukemia trial readout.

SLS stock fell 2% on Tuesday to $8.37, snapping two straight sessions of gains. 

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State Street Keeps Over 10M Shares

State Street disclosed a 5.1% stake in Sellas, comprising 10.4 million shares as of Sept.30, according to a regulatory filing on Tuesday. The firm reported shared voting power over about 9.95 million shares and shared authority to dispose of all 10.37 million shares.

Its holdings were down from nearly 13 million shares, or 7% ownership, as of June 30. The current stake is a reduction of about 2.62 million shares, or 20%.

Victory Capital Leads Buying With A 982% Increase

Victory Capital led the percentage increases among holders listed in Tuesday’s disclosures, boosting its SLS stake nearly elevenfold, according to Fiscal AI. The firm added 210,162 shares to hold 231,562 as of Sept.30, up 982% from 21,400 shares.

Voya increased its holdings about 358% to 170,848 shares, adding 133,550 shares. FMR raised its stake 385% to 123,873 shares after adding 98,340. UBS also added 232,523 shares, lifting its holdings 19% to nearly 1.49 million. Additionally, Nuveen increased its position by 4% to 437,054 shares.

However, other investors trimmed their stakes. Zurcher Kantonalbank reduced its holdings about 12% to 73,271 shares, while William Blair cut its position 12% to 15,002 shares.

Investors Await Sellas’ Leukemia Results

The ownership disclosures come as investors await results from Regal, Sellas’ Phase 3 trial of Galinpepimut-S (GPS) in acute myeloid leukemia (AML).

Sellas said late last month that the study had reached its pre-specified 80th event, triggering the final analysis. The company laid out database lock, unblinding and statistical analysis as the next steps, with preliminary topline primary endpoint results expected in the fourth quarter.

Regal evaluates GPS as a potential maintenance treatment for AML patients in second complete remission, with overall survival as its primary endpoint. CEO Angelos Stergiou reaffirmed the timeline last week, saying Sellas looked forward to reporting Regal’s topline primary endpoint data “soon.”

SLS009 Adds Another Q4 Catalyst

Sellas also expects initial results this quarter from its ongoing 80-patient Phase 2 trial of SLS009 in people newly diagnosed with AML.

Separately, the company will present results from a completed Phase 2 study at the American Society of Hematology (ASH) meeting on Dec.14. The trial enrolled patients whose AML had returned or stopped responding after treatment that included Venetoclax.

The completed study tested SLS009 alongside Azacitidine and Venetoclax. Across all doses tested, 34% of the 59 patients assessed for effectiveness responded to treatment. At the selected dose, response rates were 54% in patients with monocytic AML, a subtype of the disease, and 57% in those whose leukemia carried a mutation in the TP53 gene.

How Do Retail Traders Feel About SLS?

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

One user said the ownership filing brought back memories of an earlier disclosure and speculated that news could arrive soon. “Don’t be surprised if tomorrow is the day,” the user said.

Another user said they were watching for more 13G filings and planned to continue adding shares ahead of the anticipated results. A separate user said they had covered 60% of a short position at $8 and suggested other short sellers consider taking partial profits.

SLS stock has jumped 122% year-to-date.

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

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