Lyell Immunopharma (NASDAQ:LYEL) Major Shareholder Buys $24,999,991.74 in Stock

Key Points

• Major shareholder Arch Venture Partners bought 2.32 million Lyell shares for about $25 million at an average $10.77 each, increasing its position by 162.72% to 3.75 million shares.
• Updated ronde-cel trial results showed response rates of 91% in the pivotal 3L+ trial and 95% in the 2L cohort, with no severe cytokine release syndrome reported. Lyell also secured an approximately $80 million private placement to advance the therapy toward a planned BLA, though the stock sale may dilute shareholders.
• Lyell’s third-quarter loss of $1.86 per share was narrower than analysts’ expected $2.06 loss, but revenue was zero, reflecting its pre-commercial stage.

Lyell Immunopharma, Inc. (NASDAQ:LYEL - Get Free Report) major shareholder Arch Venture Partners Ix, Llc bought 2,321,262 shares of the firm's stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average price of $10.77 per share, with a total value of $24,999,991.74. Following the completion of the acquisition, the insider owned 3,747,790 shares of the company's stock, valued at $40,363,698.30. This trade represents a 162.72% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Lyell Immunopharma Stock Down 2.8%

NASDAQ LYEL traded down $0.43 during trading hours on Thursday, hitting $15.00. 657,433 shares of the company were exchanged, compared to its average volume of 139,964. The company has a 50 day moving average of $10.85 and a two-hundred day moving average of $16.73. Lyell Immunopharma, Inc. has a 52-week low of $7.20 and a 52-week high of $45.00. The firm has a market cap of $367.50 million, a price-to-earnings ratio of -1.17 and a beta of -0.04.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.06) by $0.20. The business had revenue of $0.00 million during the quarter, compared to analysts' expectations of $0.01 million. Lyell Immunopharma had a negative return on equity of 91.62% and a negative net margin of 920,285.25%. On average, equities research analysts predict that Lyell Immunopharma, Inc. will post -7.16 EPS for the current year.

Key Stories Impacting Lyell Immunopharma

Here are the key news stories impacting Lyell Immunopharma this week:

• Positive Sentiment: Updated ronde-cel results showed high response rates in patients with relapsed or refractory large B-cell lymphoma: in the pivotal 3L+ trial, the overall response rate was 91% and the complete response rate was 77%; results in the 2L cohort were 95% and 76%, respectively. Severe cytokine release syndrome was not observed in either group. The data will be presented at the ASH meeting and support interest in the therapy’s potential. Article: Positive updated ronde-cel data
• Positive Sentiment: Lyell secured an approximately $80 million private placement to fund ronde-cel development toward a planned biologics license application (BLA). Needham also gave the shares a “Buy” rating, while a Seeking Alpha article cited the clinical progress and financing in an upgrade to “Buy.” Article: $80 million private placement Article: Needham Buy rating Article: Seeking Alpha upgrade
• Neutral Sentiment: Third-quarter loss per share was $1.86, narrower than analysts’ expected $2.06 loss, but revenue was zero. The earnings beat is modestly favorable, though the results underscore Lyell’s pre-commercial stage and ongoing losses. Article: Third-quarter results
• Negative Sentiment: The private placement involves selling common stock, which can dilute existing shareholders. Investors will also be weighing clinical promise against the remaining development and regulatory risks before ronde-cel can reach the market.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $44.00 price target on shares of Lyell Immunopharma in a research note on Tuesday. Wall Street Zen raised shares of Lyell Immunopharma from a "sell" rating to a "hold" rating in a research report on Sunday, October 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Lyell Immunopharma in a report on Thursday, October 15th. HC Wainwright reaffirmed a "buy" rating on shares of Lyell Immunopharma in a research report on Friday, September 11th. Finally, Stifel Nicolaus started coverage on shares of Lyell Immunopharma in a research report on Thursday, August 6th. They set a "buy" rating and a $36.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.86.

Hedge Funds Weigh In On Lyell Immunopharma

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

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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