SLS, IOVA, IBRX Slump In October As Biotech Stocks Hold Steady: Virginia Pension Fund Raised Stakes In All 3
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China Universal and Mirae added to IOVA and IBRX, while other institutions cut positions.
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IOVA plunged after updated Lifileucel lung-cancer data, despite stronger responses in a selected subgroup.
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Sellas' Regal trial reached its 80th event, triggering final analysis, with results expected this quarter.
Sellas Life Sciences (SLS), Iovance Biotherapeutics (IOVA) and ImmunityBio (IBRX) are closing out a difficult October, even as recent filings reveal that Virginia Retirement System entered the month with larger stakes in all three companies.
So far this month, SLS has fallen 18%, IOVA is down 35% and IBRX has lost 7%. All three lagged the SPDR S&P Biotech ETF (XBI), which recovered from earlier weakness to trade nearly flat for the month.
Who Added And Who Cut Their Holdings In SLS, IBRX, And IOVA
| Stock |
Shares held as of Sept.30 |
Shares added |
Increase |
|---|---|---|---|
| SLS |
26,500 |
9,100 |
52% |
| IOVA |
131,450 |
23,400 |
22% |
| IBRX |
76,000 |
1,500 |
2% |
The pension investor's three positions were worth nearly $3 million combined at quarter-end.
Meanwhile, other institutions took different routes: China Universal and Mirae Asset each raised their IOVA and IBRX holdings by 16%, according to Fiscal.ai. Raiffeisen cut its IOVA stake by 26% to 280,000 shares, while Leonteq reduced its holding by 60% to 60,000 shares.
In SLS, Daiwa nearly exited, cutting its position by 99.9% to 100 shares. Wyoming reduced its stake by 92% to 1,635 shares, while SJS Investment Consulting held steady at 40,000 shares. Parkside's eye-catching 32,650% increase came from a tiny base: its holding rose from two shares to 655.
Lung-Cancer Data Tests IOVA Bulls
Iovance plunged 36% to $9.56 on Thursday after updated Lifileucel lung-cancer data showed a 24.6% response rate in 69 patients, versus 25.6% previously reported in 39. Two responses await confirmation.
A retrospectively selected subgroup of 22 patients achieved a 59.1% response rate. "In the enriched subgroup, nearly six in ten patients responded, including two complete responses," interim CEO Frederick Vogt said. Iovance plans to begin enrolling a prospective biomarker-selected cohort in November and targets a 2027 FDA submission for the broader lung-cancer program.
Lifileucel is already sold as Amtagvi for advanced melanoma. Demand for Amtagvi and Proleukin drove September's increase in 2026 revenue guidance to $410 million to $420 million from a range of $350 million to $370 million.
A Key Trial Milestone Fails To Lift SLS
Sellas fell nearly 15% Wednesday and another 2.2% Thursday to $10.16 after its Phase 3 Regal leukemia trial reached the long-awaited 80th event, meaning 80 deaths.
The milestone triggers database lock, unblinding and final analysis, with preliminary topline results expected this quarter. "Reaching the 80th event represents a critical milestone in the Regal trial," CEO Angelos Stergiou said.
Regal tests Galinpepimut-S (GPS) as maintenance treatment for patients in second complete remission. Results have not yet established whether GPS improved overall survival, the primary endpoint.
IBRX Slides Despite Approval And Trial Progress
ImmunityBio's monthly decline comes despite the FDA's recent expansion of Anktiva plus BCG's approval to include BCG-unresponsive bladder cancer with papillary-only tumors, broadening its earlier indication involving carcinoma in situ.
The next catalyst is November's readout from Quilt-2.005, a 366-patient trial comparing Anktiva plus BCG with BCG alone in patients who have not previously received BCG. ImmunityBio completed database lock last week and plans a fourth-quarter FDA submission, potentially moving treatment earlier in the disease course. CNBC's Jim Cramer called ImmunityBio a "very good spec" earlier this week, citing biotech takeover activity.
How Do Retail Traders Feel About SLS, IBRX, IOVA?
On Stocktwits, IBRX led retail optimism with 'extremely bullish' sentiment and 'extremely high' message volume. SLS sentiment was 'bullish' amid 'high' message volume, while IOVA drew 'bearish' sentiment amid 'low' activity.
So far this year, IBRX has surged 341%, IOVA has gained 250% and SLS has climbed 169%, all outpacing XBI's 30% advance.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
Deepti Sri has no position in any of the stocks mentioned in this article. StockTwits' news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy . This article was originally published on StockTwits .
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