Renaissance Technologies LLC Buys 76,921 Shares of Lyell Immunopharma, Inc. $LYEL

Key Points

• Renaissance Technologies increased its Lyell Immunopharma stake by 194.8%, purchasing 76,921 additional shares to own 116,411 shares, or 0.50% of the company. Institutional investors collectively hold 66.05% of LYEL.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $42.00, despite ratings ranging from “Strong Buy” to “Sell.”
• Lyell Immunopharma reported a quarterly loss of $1.92 per share, slightly beating estimates, but remains an unprofitable clinical-stage biotechnology company developing engineered T-cell therapies for solid tumors.

Renaissance Technologies LLC raised its stake in Lyell Immunopharma, Inc. (NASDAQ:LYEL - Free Report) by 194.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,411 shares of the company's stock after purchasing an additional 76,921 shares during the quarter. Renaissance Technologies LLC owned 0.50% of Lyell Immunopharma worth $2,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Lyell Immunopharma by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 85,423 shares of the company's stock worth $2,629,000 after buying an additional 5,913 shares in the last quarter. BBR Partners LLC purchased a new stake in Lyell Immunopharma in the 4th quarter valued at $210,000. ExodusPoint Capital Management LP bought a new position in Lyell Immunopharma during the 4th quarter valued at $262,000. Marshall Wace LLP bought a new position in Lyell Immunopharma during the 2nd quarter valued at $94,000. Finally, Two Sigma Investments LP boosted its holdings in Lyell Immunopharma by 107.0% during the 3rd quarter. Two Sigma Investments LP now owns 20,827 shares of the company's stock worth $338,000 after acquiring an additional 10,768 shares during the last quarter. Institutional investors own 66.05% of the company's stock.

Wall Street Analysts Forecast Growth

LYEL has been the subject of several analyst reports. B. Riley Financial began coverage on shares of Lyell Immunopharma in a report on Wednesday, July 22nd. They issued a "buy" rating and a $44.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $44.00 price target on shares of Lyell Immunopharma in a report on Monday, June 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lyell Immunopharma in a research report on Friday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $45.00 price objective on shares of Lyell Immunopharma in a research note on Tuesday, June 9th. Finally, Stifel Nicolaus assumed coverage on shares of Lyell Immunopharma in a research report on Thursday, August 6th. They set a "buy" rating and a $36.00 target price on the stock. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $42.00.

Lyell Immunopharma Stock Performance

Shares of LYEL stock opened at $14.33 on Tuesday. The firm has a market cap of $351.08 million, a price-to-earnings ratio of -1.12 and a beta of -0.04. Lyell Immunopharma, Inc. has a 52 week low of $9.28 and a 52 week high of $45.00. The firm's 50-day simple moving average is $13.39 and its two-hundred day simple moving average is $18.90.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($1.92) earnings per share for the quarter, beating analysts' consensus estimates of ($1.94) by $0.02. Lyell Immunopharma had a negative net margin of 920,285.25% and a negative return on equity of 87.60%. The firm had revenue of $0.00 million for the quarter, compared to analysts' expectations of $0.00 million. Analysts forecast that Lyell Immunopharma, Inc. will post -7.48 earnings per share for the current year.

Lyell Immunopharma Profile

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.

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