Lyell Immunopharma (NASDAQ:LYEL) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Lyell Immunopharma from “hold” to “sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $40.86.
• Lyell shares opened at $8.12, near their 52-week low of $7.20 and well below the $45.00 high; the company has a market value of approximately $198.9 million.
• The clinical-stage biotechnology company reported a quarterly loss of $1.92 per share, slightly better than estimates, but analysts expect a full-year loss of $7.16 per share. Hedge funds and institutional investors own 66.05% of the stock.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. B. Riley Financial assumed coverage on Lyell Immunopharma in a research note on Wednesday, July 22nd. They set a "buy" rating and a $44.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Lyell Immunopharma in a research note on Thursday. Citigroup reaffirmed a "market outperform" rating on shares of Lyell Immunopharma in a report on Friday, August 14th. Royal Bank Of Canada set a $34.00 price target on Lyell Immunopharma in a research report on Friday, August 14th. Finally, Stifel Nicolaus assumed coverage on Lyell Immunopharma in a report on Thursday, August 6th. They set a "buy" rating and a $36.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.86.

Lyell Immunopharma Trading Down 0.9%

Lyell Immunopharma stock opened at $8.12 on Friday. Lyell Immunopharma has a 1-year low of $7.20 and a 1-year high of $45.00. The firm has a market capitalization of $198.94 million, a PE ratio of -0.63 and a beta of -0.03. The firm's 50 day simple moving average is $11.95 and its 200 day simple moving average is $15.06.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.92) EPS for the quarter, beating the consensus estimate of ($1.94) by $0.02. The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $0.00 million. Lyell Immunopharma had a negative net margin of 920,285.25% and a negative return on equity of 91.62%. Research analysts forecast that Lyell Immunopharma will post -7.16 earnings per share for the current year.

Hedge Funds Weigh In On Lyell Immunopharma

A number of hedge funds and other institutional investors have recently modified their holdings of LYEL. Velan Capital Investment Management LP increased its position in shares of Lyell Immunopharma by 2.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 105,000 shares of the company's stock valued at $1,475,000 after purchasing an additional 3,000 shares during the last quarter. Walleye Capital LLC purchased a new stake in Lyell Immunopharma in the first quarter worth approximately $445,000. Squarepoint Ops LLC boosted its stake in Lyell Immunopharma by 119.4% in the second quarter. Squarepoint Ops LLC now owns 42,322 shares of the company's stock worth $595,000 after buying an additional 23,028 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Lyell Immunopharma during the second quarter valued at approximately $347,000. Finally, Bank of America Corp DE grew its position in Lyell Immunopharma by 314.2% during the first quarter. Bank of America Corp DE now owns 33,321 shares of the company's stock valued at $668,000 after acquiring an additional 25,276 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Lyell Immunopharma Company Profile

Lyell Immunopharma, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for cancer, with an emphasis on solid tumors. The company seeks to address limitations of existing cell therapies, including T-cell exhaustion, limited persistence and reduced activity within the tumor microenvironment.

Lyell uses cell-engineering and genomic technologies to develop investigational chimeric antigen receptor (CAR) T-cell and T-cell receptor (TCR) therapies.

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