Lyell Immunopharma (NASDAQ:LYEL) Given New $39.00 Price Target at HC Wainwright

Key Points

• HC Wainwright cut its price target on Lyell Immunopharma from $45 to $39 but maintained a Buy rating; the new target implies 149.36% upside from the prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and a $40 average target price.
• Lyell reported a quarterly loss of $1.86 per share, narrower than the $2.01 loss analysts expected. A major shareholder also acquired about $25 million in shares.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) had its price objective dropped by analysts at HC Wainwright from $45.00 to $39.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 149.36% from the company's previous close.

A number of other brokerages have also recently commented on LYEL. Royal Bank Of Canada set a $34.00 price target on Lyell Immunopharma in a research report on Friday, August 14th. Stifel Nicolaus started coverage on Lyell Immunopharma in a research note on Thursday, August 6th. They set a "buy" rating and a $36.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $44.00 target price on shares of Lyell Immunopharma in a report on Tuesday, November 3rd. Citigroup restated a "market outperform" rating on shares of Lyell Immunopharma in a research note on Friday, August 14th. Finally, Wall Street Zen raised shares of Lyell Immunopharma from a "sell" rating to a "hold" rating in a report on Sunday, October 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

Lyell Immunopharma Trading Down 7.2%

Lyell Immunopharma stock opened at $15.64 on Friday. Lyell Immunopharma has a 12 month low of $7.20 and a 12 month high of $45.00. The stock has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $16.46. The firm has a market cap of $384.59 million, a price-to-earnings ratio of -1.25 and a beta of -0.04.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.15. The business had revenue of $0.00 million for the quarter, compared to analysts' expectations of $0.00 million. Lyell Immunopharma had a negative net margin of 1,701,066.75% and a negative return on equity of 107.62%. On average, equities research analysts forecast that Lyell Immunopharma will post -7.16 EPS for the current fiscal year.

Insider Transactions at Lyell Immunopharma

In other Lyell Immunopharma news, major shareholder Arch Venture Partners Ix, Llc acquired 2,321,262 shares of the stock in a transaction dated Wednesday, November 4th. The shares were acquired at an average cost of $10.77 per share, for a total transaction of $24,999,991.74. Following the completion of the transaction, the insider directly owned 3,747,790 shares of the company's stock, valued at approximately $40,363,698.30. The trade was a 162.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Venture Fund Xiii L.P. Arch acquired 2,321,262 shares of the stock in a transaction dated Wednesday, November 4th. The stock was acquired at an average price of $10.77 per share, for a total transaction of $24,999,991.74. Following the completion of the transaction, the insider directly owned 3,747,790 shares of the company's stock, valued at approximately $40,363,698.30. This represents a 162.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 2,100 shares of company stock worth $28,757. Insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. venBio Partners LLC bought a new stake in shares of Lyell Immunopharma during the second quarter valued at approximately $4,744,643. Opaleye Management Inc. grew its stake in Lyell Immunopharma by 334.9% during the second quarter. Opaleye Management Inc. now owns 344,025 shares of the company's stock valued at $4,834,000 after acquiring an additional 264,928 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Lyell Immunopharma by 194.8% in the 1st quarter. Renaissance Technologies LLC now owns 116,411 shares of the company's stock valued at $2,335,000 after acquiring an additional 76,921 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Lyell Immunopharma in the 1st quarter valued at $959,000. Finally, Bank of America Corp DE lifted its stake in Lyell Immunopharma by 314.2% in the 1st quarter. Bank of America Corp DE now owns 33,321 shares of the company's stock worth $668,000 after purchasing an additional 25,276 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors.

Lyell Immunopharma Company Profile

Lyell Immunopharma is a clinical-stage biotechnology company developing engineered T-cell therapies for people with cancer, with a focus on solid tumors. Its research aims to improve T cells' ability to recognize and attack cancer cells and to remain active in the challenging environment inside tumors. The company's investigational programs have included CAR T-cell and tumor-infiltrating lymphocyte (TIL) therapies. These approaches use a patient's own immune cells, which are modified or selected and expanded before being administered as a potential treatment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.