Qualcomm Shares Drop Over 11% as Investors Worry About AI Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
High-flying semiconductors and memory names were some of the worst-hit stocks on Tuesday as investors - fretting over the speed of the AI and data center demand frenzy - pulled back on Tech exposure. The worst performer in the S&P 500 - Qualcomm- was down over 11% after the stock's advance of 87% in just 3 weeks at its highs overnight. Intel, Sandisk, Western Digitaland Micron,were down 7%, 6%, 5%, and 4% respectively, though all four names remain in the top 10 ranking in terms of S&P 500's best performers for the year. The rotation from high-momentum to value benefited the Healthcare space, which was the best performing sector in the benchmark today but remains the index's worst sector for the year - Humanawas a standout here with a gain of over 7%, as the stock has now nearly doubled from its late-March lows.Sentiment is cautious in the evening session as S&P e-minis and Nasdaq 100 contracts are both flat. In commodities, WTI Crude Oil remains bid just below $102 per barrel as Middle East tension remains unresolved while base metals continue to trend higher as traders adjust to re-heating inflation expectations, with Copper up for the 4th straight session above $6.60.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Velo3Dup 22.3%SELLAS Life Sciences Groupup 14.4%Nextpowerup 10.5%Arterisup 7.0%ALSO HIGHER -Energy Vaultup 5.1% after announcing strategic development agreement with EskomDOWN AFTER EARNINGS -Karman Holdingsdown 10.4%Resideo Technologiesdown 7.3%Infinity Natural Resourcesdown 7.2%Astronicsdown 5.4%Paysigndown 3.8%Kura Oncologydown 2.1%Oklodown 1.5%
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Analyst Views on SLS
Wall Street analysts forecast SLS stock price to fall
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 7.290
Low
7.00
Averages
7.25
High
7.50
Current: 7.290
Low
7.00
Averages
7.25
High
7.50
About SLS
SELLAS Life Sciences Group, Inc. is a late-stage clinical biopharmaceutical company. The Company is focused on the development of therapeutics for a range of cancer indications. The Company's product candidates are galinpepimut-S (GPS), a peptide immunotherapy directed against the Wilms tumor 1 (WT1), antigen, and SLS009, a selective small molecule cyclin-dependent kinase 9 (CDK9) inhibitor. GPS is a cancer immunotherapeutic agent licensed by Memorial Sloan Kettering Cancer Center (MSK), that targets the WT1 protein, which is present in an array of tumor types. GPS has potential as a monotherapy or in combination with other immunotherapeutic agents to address a broad spectrum of hematologic malignancies and solid tumor indications. The Company is developing SLS009, which is licensed by GenFleet Therapeutics (Shanghai), Inc., for all therapeutic and diagnostic uses in the world outside of mainland China, Hong Kong, Macau, and Taiwan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Morgan Stanley Increases SLS Stake by Nearly 50%
- Institutional Buying Surge: Morgan Stanley increased its SLS stake by nearly 50% in Q1, adding over 445,000 shares to reach a total of 1.34 million shares valued at $5.65 million, indicating strong confidence in Sellas Life Sciences and potentially driving further stock price appreciation.
- Clinical Trial Milestone: Sellas' Phase 3 Regal trial reached 78 events as of May 11, leaving just two events before the threshold for final data analysis, which is expected to accelerate data release and heighten market interest in its AML treatment options.
- Cash Position Strength: Sellas ended Q1 with approximately $107.1 million in cash and cash equivalents, receiving an additional $7.5 million from warrant exercises in Q2, and established a new at-the-market equity facility that could raise up to $150 million, enhancing its R&D capabilities.
- Investor Sentiment Soars: Retail sentiment for SLS is extremely bullish, with a 114% increase in chatter over the past week, reflecting high market anticipation for upcoming investor conferences and clinical progress, which may further drive stock price increases.
See More
Sellas Life Sciences Stock Soars 48% Ahead of Key Conferences
- Stock Surge: Sellas Life Sciences (SLS) shares have surged 48% this week, marking its best performance in over four months, driven by anticipation surrounding upcoming cancer conferences and investor interest in its AML drug pipeline.
- Clinical Trial Progress: The Phase 3 Regal trial has reached 78 events, just two short of the 80 required for final analysis, with expectations to soon enter database lock and unblinding procedures, which could significantly impact the company's future stock performance.
- Strong Financial Position: Sellas ended Q1 with $107.1 million in cash and raised an additional $7.5 million through warrant exercises, while establishing a new at-the-market equity facility to potentially raise up to $150 million, enhancing its financial flexibility for future developments.
- Institutional Buying: BlackRock increased its stake in Sellas by 62% as of March 31, bringing its total to 12.2 million shares valued at $51.6 million, with other institutions also reporting increased positions, reflecting strong market confidence in Sellas' prospects.
See More
Sellas Life Sciences Stock Soars 25% Amid Institutional Buying and AML Data Catalyst
- Stock Surge: Sellas Life Sciences' shares soared 25% on Wednesday, marking its best single-day performance in over two months, primarily driven by BlackRock's 62% stake increase, reflecting strong market confidence in the company.
- Clinical Trial Progress: As of May 11, Sellas' Phase 3 Regal AML study reached 78 events, just two away from final data disclosure, with the CEO highlighting this moment as crucial for potential transformative treatment for AML patients.
- Strong Financial Position: Sellas ended Q1 with $107.1 million in cash and equivalents and secured an additional $7.5 million from warrant exercises in Q2, while establishing a new at-the-market equity facility to raise up to $150 million, although no shares have been sold yet.
- Second AML Program: Sellas' second AML program, SLS009, has begun dosing newly diagnosed high-risk patients in a Phase 2 study, with early data showing promising effects on AML cells, and topline data expected in Q4, further enhancing market anticipation.
See More
Nebius Reports 654% Revenue Surge; Cisco Raises AI Order Forecast to $9 Billion
- Nebius Revenue Surge: Nebius reported a staggering 684% year-over-year increase in Q1 revenue, reaching $399 million, surpassing Wall Street's estimate of $388 million, indicating strong demand in AI infrastructure, with a projected annual recurring revenue of $7 billion to $9 billion for 2026, solidifying its market position.
- Cisco AI Order Forecast Raised: Cisco raised its AI-related infrastructure order forecast for 2026 from $5 billion to $9 billion, reflecting robust demand for AI hardware, while reporting a 12% increase in Q3 revenue to $15.8 billion, exceeding analyst expectations, showcasing the company's success in its transformation.
- Sellas Cancer Research Progress: Sellas Life Sciences updated on its Phase 3 REGAL study for acute myeloid leukemia, nearing the final event threshold for key data readout, and has initiated a Phase 2 trial for high-risk AML patients, demonstrating its potential in cancer treatment.
- Strong Stock Market Performance: Stocks of Nebius, Cisco, and Sellas reached fresh 52-week highs, with gains of over 147%, 32%, and 73% respectively, as investors recognized tangible progress in AI infrastructure and drug development, with retail sentiment shifting to 'extremely bullish'.
See More
U.S. Stocks Hit Record Highs, Tech Stocks Lead Gains
- Tech Stock Surge: The Nasdaq rose 1.4% and the S&P 500 gained 0.6%, both reaching record highs, indicating strong performance in tech stocks, particularly with NVIDIA hitting all-time highs, reflecting increased investor confidence in the technology sector.
- Rising Inflation Pressures: The producer price index surged 6% year-over-year in April, marking the highest level in four years and the sharpest monthly increase since 2022, indicating heightened cost pressures for producers that could influence future monetary policy and raise concerns about interest rate hikes.
- New Fed Chair Confirmation: The U.S. Senate confirmed Kevin Warsh as the 17th chair of the Federal Reserve, and while he advocates for lower rates, the current inflation signals have led to market uncertainty regarding future policy directions, potentially increasing market volatility.
- Energy Market Trends: Brent crude oil prices settled near $104.85 per barrel, as fears of rising U.S. interest rates dampened global demand outlook; however, the International Energy Agency warned that global oil supply could remain below demand until 2026 due to ongoing disruptions in the Middle East.
See More
SELLAS Life Sciences Stock Surges Nearly 30% This Week
- Stock Performance: SELLAS Life Sciences (SLS) has surged nearly 30% this week, on track for its best weekly performance since January 2, indicating strong market confidence in its future prospects.
- Clinical Trial Progress: The company is advancing key programs in acute myeloid leukemia (AML), with the pivotal REGAL trial just two events away from data analysis, as of May 11, 2026, 78 deaths have occurred in the study, with the prespecified 80th event set to trigger results analysis.
- Analyst Ratings: According to Koyfin data, both analysts covering SELLAS rate it ‘Buy’ or higher, with a 12-month average price target of $10, representing a potential upside of about 53% from Wednesday's closing price, reflecting optimistic market expectations for its future performance.
- Retail Sentiment: On Stocktwits, retail sentiment around SELLAS has remained in the ‘bullish’ territory, with message volume increasing from ‘normal’ to ‘high’ levels over the past 24 hours, indicating heightened investor interest and anticipation for the upcoming trial results.
See More
Morgan Stanley Increases SLS Stake by Nearly 50%
- Institutional Buying Surge: Morgan Stanley increased its SLS stake by nearly 50% in Q1, adding over 445,000 shares to reach a total of 1.34 million shares valued at $5.65 million, indicating strong confidence in Sellas Life Sciences and potentially driving further stock price appreciation.
- Clinical Trial Milestone: Sellas' Phase 3 Regal trial reached 78 events as of May 11, leaving just two events before the threshold for final data analysis, which is expected to accelerate data release and heighten market interest in its AML treatment options.
- Cash Position Strength: Sellas ended Q1 with approximately $107.1 million in cash and cash equivalents, receiving an additional $7.5 million from warrant exercises in Q2, and established a new at-the-market equity facility that could raise up to $150 million, enhancing its R&D capabilities.
- Investor Sentiment Soars: Retail sentiment for SLS is extremely bullish, with a 114% increase in chatter over the past week, reflecting high market anticipation for upcoming investor conferences and clinical progress, which may further drive stock price increases.
See More
Sellas Life Sciences Stock Soars 48% Ahead of Key Conferences
- Stock Surge: Sellas Life Sciences (SLS) shares have surged 48% this week, marking its best performance in over four months, driven by anticipation surrounding upcoming cancer conferences and investor interest in its AML drug pipeline.
- Clinical Trial Progress: The Phase 3 Regal trial has reached 78 events, just two short of the 80 required for final analysis, with expectations to soon enter database lock and unblinding procedures, which could significantly impact the company's future stock performance.
- Strong Financial Position: Sellas ended Q1 with $107.1 million in cash and raised an additional $7.5 million through warrant exercises, while establishing a new at-the-market equity facility to potentially raise up to $150 million, enhancing its financial flexibility for future developments.
- Institutional Buying: BlackRock increased its stake in Sellas by 62% as of March 31, bringing its total to 12.2 million shares valued at $51.6 million, with other institutions also reporting increased positions, reflecting strong market confidence in Sellas' prospects.
See More
Sellas Life Sciences Stock Soars 25% Amid Institutional Buying and AML Data Catalyst
- Stock Surge: Sellas Life Sciences' shares soared 25% on Wednesday, marking its best single-day performance in over two months, primarily driven by BlackRock's 62% stake increase, reflecting strong market confidence in the company.
- Clinical Trial Progress: As of May 11, Sellas' Phase 3 Regal AML study reached 78 events, just two away from final data disclosure, with the CEO highlighting this moment as crucial for potential transformative treatment for AML patients.
- Strong Financial Position: Sellas ended Q1 with $107.1 million in cash and equivalents and secured an additional $7.5 million from warrant exercises in Q2, while establishing a new at-the-market equity facility to raise up to $150 million, although no shares have been sold yet.
- Second AML Program: Sellas' second AML program, SLS009, has begun dosing newly diagnosed high-risk patients in a Phase 2 study, with early data showing promising effects on AML cells, and topline data expected in Q4, further enhancing market anticipation.
See More
Nebius Reports 654% Revenue Surge; Cisco Raises AI Order Forecast to $9 Billion
- Nebius Revenue Surge: Nebius reported a staggering 684% year-over-year increase in Q1 revenue, reaching $399 million, surpassing Wall Street's estimate of $388 million, indicating strong demand in AI infrastructure, with a projected annual recurring revenue of $7 billion to $9 billion for 2026, solidifying its market position.
- Cisco AI Order Forecast Raised: Cisco raised its AI-related infrastructure order forecast for 2026 from $5 billion to $9 billion, reflecting robust demand for AI hardware, while reporting a 12% increase in Q3 revenue to $15.8 billion, exceeding analyst expectations, showcasing the company's success in its transformation.
- Sellas Cancer Research Progress: Sellas Life Sciences updated on its Phase 3 REGAL study for acute myeloid leukemia, nearing the final event threshold for key data readout, and has initiated a Phase 2 trial for high-risk AML patients, demonstrating its potential in cancer treatment.
- Strong Stock Market Performance: Stocks of Nebius, Cisco, and Sellas reached fresh 52-week highs, with gains of over 147%, 32%, and 73% respectively, as investors recognized tangible progress in AI infrastructure and drug development, with retail sentiment shifting to 'extremely bullish'.
See More
U.S. Stocks Hit Record Highs, Tech Stocks Lead Gains
- Tech Stock Surge: The Nasdaq rose 1.4% and the S&P 500 gained 0.6%, both reaching record highs, indicating strong performance in tech stocks, particularly with NVIDIA hitting all-time highs, reflecting increased investor confidence in the technology sector.
- Rising Inflation Pressures: The producer price index surged 6% year-over-year in April, marking the highest level in four years and the sharpest monthly increase since 2022, indicating heightened cost pressures for producers that could influence future monetary policy and raise concerns about interest rate hikes.
- New Fed Chair Confirmation: The U.S. Senate confirmed Kevin Warsh as the 17th chair of the Federal Reserve, and while he advocates for lower rates, the current inflation signals have led to market uncertainty regarding future policy directions, potentially increasing market volatility.
- Energy Market Trends: Brent crude oil prices settled near $104.85 per barrel, as fears of rising U.S. interest rates dampened global demand outlook; however, the International Energy Agency warned that global oil supply could remain below demand until 2026 due to ongoing disruptions in the Middle East.
See More
SELLAS Life Sciences Stock Surges Nearly 30% This Week
- Stock Performance: SELLAS Life Sciences (SLS) has surged nearly 30% this week, on track for its best weekly performance since January 2, indicating strong market confidence in its future prospects.
- Clinical Trial Progress: The company is advancing key programs in acute myeloid leukemia (AML), with the pivotal REGAL trial just two events away from data analysis, as of May 11, 2026, 78 deaths have occurred in the study, with the prespecified 80th event set to trigger results analysis.
- Analyst Ratings: According to Koyfin data, both analysts covering SELLAS rate it ‘Buy’ or higher, with a 12-month average price target of $10, representing a potential upside of about 53% from Wednesday's closing price, reflecting optimistic market expectations for its future performance.
- Retail Sentiment: On Stocktwits, retail sentiment around SELLAS has remained in the ‘bullish’ territory, with message volume increasing from ‘normal’ to ‘high’ levels over the past 24 hours, indicating heightened investor interest and anticipation for the upcoming trial results.
See More
