Opaleye Management Inc. Acquires 264,928 Shares of Lyell Immunopharma, Inc. $LYEL

Key Points

• Opaleye Management increased its Lyell Immunopharma stake by 334.9%, acquiring 264,928 additional shares and bringing its holdings to 344,025 shares, or roughly 1.4% of the company. Institutional investors collectively own 66.05% of LYEL.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $40.86, despite one Hold and one Sell rating.
• Lyell shares opened at $12.20, near their 12-month low of $11.47, while the clinical-stage biotech reported a quarterly loss of $1.92 per share—slightly better than estimates—and continues developing engineered T-cell therapies for solid tumors.

Opaleye Management Inc. lifted its stake in shares of Lyell Immunopharma, Inc. (NASDAQ:LYEL - Free Report) by 334.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 344,025 shares of the company's stock after acquiring an additional 264,928 shares during the quarter. Opaleye Management Inc. owned about 1.40% of Lyell Immunopharma worth $4,834,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BBR Partners LLC acquired a new stake in Lyell Immunopharma in the 4th quarter worth $210,000. ExodusPoint Capital Management LP acquired a new stake in Lyell Immunopharma during the fourth quarter valued at approximately $262,000. Marshall Wace LLP bought a new stake in Lyell Immunopharma in the second quarter valued at $94,000. Jane Street Group LLC bought a new stake in shares of Lyell Immunopharma in the 4th quarter worth about $382,000. Finally, Barclays PLC grew its stake in Lyell Immunopharma by 1,239.5% during the fourth quarter. Barclays PLC now owns 15,967 shares of the company's stock worth $491,000 after buying an additional 14,775 shares during the last quarter. 66.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LYEL. Stifel Nicolaus assumed coverage on Lyell Immunopharma in a research note on Thursday, August 6th. They issued a "buy" rating and a $36.00 target price for the company. 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 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $45.00 price target on shares of Lyell Immunopharma in a research report on Tuesday, June 9th. Royal Bank Of Canada set a $34.00 price objective on shares of Lyell Immunopharma in a report on Friday, August 14th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $34.00 target price on shares of Lyell Immunopharma in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lyell Immunopharma presently has an average rating of "Moderate Buy" and an average target price of $40.86.

Lyell Immunopharma Stock Down 5.3%

Shares of NASDAQ:LYEL opened at $12.20 on Friday. The business has a 50 day moving average of $14.08 and a 200-day moving average of $17.31. The stock has a market cap of $298.90 million, a PE ratio of -0.95 and a beta of -0.04. Lyell Immunopharma, Inc. has a 12-month low of $11.47 and a 12-month high of $45.00.

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

About Lyell Immunopharma

Lyell Immunopharma is a clinical-stage biotechnology company focused on developing next-generation T cell therapies for cancer. Leveraging a proprietary platform that combines cell therapy, gene editing and molecular discovery, Lyell seeks to overcome key barriers in the treatment of solid tumors. The company's approach centers on engineering T cells to enhance their persistence, functionality and resistance to the immunosuppressive tumor microenvironment.

The company's pipeline includes multiple autologous T cell programs engineered to target tumor-associated antigens in solid malignancies such as melanoma, ovarian and pancreatic cancers.

Want to see what other hedge funds are holding LYEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyell Immunopharma, Inc. (NASDAQ:LYEL - Free Report).

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.