Lyell Immunopharma (NASDAQ:LYEL) Stock Rating Reaffirmed as Buy by Needham & Company LLC

Key Points

• Needham reaffirmed a Buy rating on Lyell Immunopharma and maintained a $44 price target, implying 304.41% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus rating of Moderate Buy and an average price target of $40.86; ratings include one Strong Buy, six Buys, one Hold, and one Sell.
• Lyell shares opened at $10.88, while the company remains an unprofitable clinical-stage biotechnology firm; institutional investors own approximately 66.05% of its stock.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report)'s stock had its "buy" rating reiterated by Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They currently have a $44.00 price target on the stock. Needham & Company LLC's price target would suggest a potential upside of 304.41% from the stock's previous close.

A number of other research firms have also recently weighed in on LYEL. Stifel Nicolaus initiated coverage on shares of Lyell Immunopharma in a report on Thursday, August 6th. They issued a "buy" rating and a $36.00 price objective on the stock. Wall Street Zen upgraded shares of Lyell Immunopharma from a "sell" rating to a "hold" rating in a research report on Sunday, October 25th. B. Riley Financial began coverage on shares of Lyell Immunopharma in a research note on Wednesday, July 22nd. They issued a "buy" rating and a $44.00 price target on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Lyell Immunopharma in a report on Friday, August 14th. Finally, Royal Bank Of Canada set a $34.00 price objective on Lyell Immunopharma in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lyell Immunopharma currently has a consensus rating of "Moderate Buy" and an average target price of $40.86.

Lyell Immunopharma Price Performance

Shares of NASDAQ LYEL opened at $10.88 on Tuesday. Lyell Immunopharma has a 1-year low of $7.20 and a 1-year high of $45.00. The business's fifty day moving average price is $10.93 and its two-hundred day moving average price is $16.83. The firm has a market capitalization of $266.60 million, a PE ratio of -0.85 and a beta of -0.03.

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

Hedge Funds Weigh In On Lyell Immunopharma

A number of institutional investors and hedge funds have recently bought and sold shares of LYEL. Walleye Capital LLC bought a new stake in shares of Lyell Immunopharma during the 1st quarter worth about $445,000. Bank of New York Mellon Corp bought a new position in shares of Lyell Immunopharma in the second quarter valued at approximately $347,000. Bank of America Corp DE increased its stake in shares of 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 period. Squarepoint Ops LLC increased its stake in shares of Lyell Immunopharma by 119.4% during the second quarter. Squarepoint Ops LLC now owns 42,322 shares of the company's stock valued at $595,000 after acquiring an additional 23,028 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Lyell Immunopharma during the first quarter valued at approximately $959,000. Institutional investors own 66.05% of the company's stock.

Lyell Immunopharma Company Profile

Lyell Immunopharma, Inc is a clinical-stage biotechnology company focused on developing cellular therapies for the treatment of cancer. The company aims to improve the durability and effectiveness of T-cell therapies by addressing challenges such as T-cell exhaustion, limited persistence, and inadequate activity within solid tumors.

Lyell's research and development programs use technologies designed to reprogram and rejuvenate T cells, including approaches involving genetic engineering, epigenetic modification, and chimeric antigen receptor (CAR) T-cell therapy.

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