Wall Street Zen Upgrades Lyell Immunopharma (NASDAQ:LYEL) to "Hold"

Key Points

• Wall Street Zen upgraded Lyell Immunopharma from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $40.86.
• LYEL shares opened at $9.85, near their 52-week low of $9.81 and well below the 52-week high of $45.00; the company has a market capitalization of approximately $241.3 million.
• Lyell reported a quarterly loss of $1.92 per share, slightly better than analyst expectations, but remains an early-stage biotechnology company with no quarterly revenue and significant projected losses.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

LYEL has been the topic of a number of other reports. HC Wainwright restated a "buy" rating on shares of Lyell Immunopharma in a research note on Friday, September 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lyell Immunopharma in a research note on Friday, July 17th. Royal Bank Of Canada set a $34.00 price objective on Lyell Immunopharma in a report on Friday, August 14th. Citigroup reissued a "market outperform" rating on shares of Lyell Immunopharma in a research note on Friday, August 14th. Finally, Stifel Nicolaus began coverage on Lyell Immunopharma in a report on Thursday, August 6th. They set a "buy" rating and a $36.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.86.

Lyell Immunopharma Price Performance

Shares of LYEL opened at $9.85 on Friday. Lyell Immunopharma has a 1-year low of $9.81 and a 1-year high of $45.00. The stock has a market cap of $241.32 million, a PE ratio of -0.77 and a beta of -0.04. The firm has a 50-day simple moving average of $13.29 and a two-hundred day simple moving average of $16.40.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.92) EPS for the quarter, topping the consensus estimate of ($1.94) by $0.02. Lyell Immunopharma had a negative net margin of 920,285.25% and a negative return on equity of 91.62%. The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $0.00 million. As a group, sell-side analysts expect that Lyell Immunopharma will post -7.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Opaleye Management Inc. increased its position in shares of Lyell Immunopharma by 334.9% in the 2nd quarter. Opaleye Management Inc. now owns 344,025 shares of the company's stock valued at $4,834,000 after purchasing an additional 264,928 shares during the last quarter. Squarepoint Ops LLC grew 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 worth $595,000 after purchasing an additional 23,028 shares in the last quarter. Velan Capital Investment Management LP increased its holdings in Lyell Immunopharma by 2.9% in the second quarter. Velan Capital Investment Management LP now owns 105,000 shares of the company's stock valued at $1,475,000 after buying an additional 3,000 shares during the last quarter. venBio Partners LLC purchased a new position in Lyell Immunopharma in the second quarter valued at $4,744,643. Finally, Bank of New York Mellon Corp acquired a new stake in Lyell Immunopharma in the second quarter valued at $347,000. Hedge funds and other 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 T-cell therapies for patients with cancer. The company's research is aimed at addressing challenges that can limit the effectiveness of cellular immunotherapies, including T-cell exhaustion, inadequate persistence and difficulty penetrating solid tumors.

Lyell uses its cellular reprogramming and genetic engineering technologies to develop therapeutic T cells, including chimeric antigen receptor (CAR) T-cell candidates.

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