Sellas Life Sciences Group Inc (NASDAQ: SLS) is having an incredibly strong day in the market today, and for good reason. First and foremost, the company announced that a presentation will be coming Monday. Moreover, investors seem to be paying close attention to the entities that are investing in the company. Today, we’ll talk about:
- The coming presentation;
- who’s investing in SLS;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Here’s Why SLS Is Gaining
As mentioned above, Sellas Life Sciences is having an incredibly strong start to the trading session this morning for multiple reasons. The first reason has to do with the company’s recent announcement of a coming presentation. In a recent press release, the company said that it will be holding a conference call at 8:00 am ET on October 22, 2018.
SLS said that the call will follow an oral presentation at the ESMO 2018 Annual Meeting. The presentation will include interim, updated and final clinical data from its Phase 2b clinical trial of the combination of trastuzumab +/- nelipepimut-S. The study targeted HER2 low-expressing breast cancer. To join the call, dial (866) 416-7995 and use the conference ID 5571389.
Another factor that is helping to push SLS toward the top is the ownership of the company. Recent reports are pointing to the fact that 13% of the company is owned by institutional investors. Of course, this level of institutional ownership provides a high degree of credibility among the investment community.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of Sellas Life Sciences, the recent news has been overwhelmingly positive. After all, with coming clinical data, investors are excited about a catalyst ahead. At the same time, institutional investors are involved, further validating positive retail investor opinions. So, it comes as no surprise that excited investors are sending the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:38), SLS is trading at $2.16 per share after a gain of $0.48 per share or 28.57% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SLS. In particular, we’re interested in following the story surrounding the company’s coming clinical update. We’ll also be watching institutional interest incredibly closely. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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