Lyell Immunopharma (NASDAQ:LYEL) Posts Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• Lyell Immunopharma beat earnings expectations: The clinical-stage biotech reported a quarterly loss of $1.92 per share, $0.10 better than analysts’ projected loss of $2.02. Revenue was effectively zero, at $0.00 million versus the $0.01 million estimate.
• The stock remains highly volatile and unprofitable: Shares traded at $14.71, with a 12-month range of $9.28 to $45.00, while the company reported a negative net margin and return on equity.
• Analysts remain generally bullish: Lyell has a consensus “Moderate Buy” rating and a $42.00 target price, supported by recent buy ratings and targets ranging from $36 to $49. Institutional investors own approximately 66.05% of the stock.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($1.92) earnings per share for the quarter, topping analysts' consensus estimates of ($2.02) by $0.10, reports. 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 during the quarter, compared to analyst estimates of $0.01 million.

Lyell Immunopharma Price Performance

NASDAQ:LYEL traded up $0.50 during mid-day trading on Friday, reaching $14.71. 110,955 shares of the company's stock traded hands, compared to its average volume of 170,417. The company has a 50 day moving average price of $13.44 and a 200-day moving average price of $19.01. The firm has a market capitalization of $360.39 million, a price-to-earnings ratio of -1.15 and a beta of -0.04. Lyell Immunopharma has a 12-month low of $9.28 and a 12-month high of $45.00.

Hedge Funds Weigh In On Lyell Immunopharma

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. bought a new position in shares of Lyell Immunopharma during the fourth quarter valued at approximately $3,036,000. ExodusPoint Capital Management LP bought a new stake in Lyell Immunopharma in the fourth quarter valued at $262,000. Barclays PLC boosted its holdings in Lyell Immunopharma by 1,239.5% in the fourth quarter. Barclays PLC now owns 15,967 shares of the company's stock valued at $491,000 after acquiring an additional 14,775 shares in the last quarter. Marshall Wace LLP purchased a new position in Lyell Immunopharma during the 4th quarter valued at $2,257,000. Finally, Charles Schwab Investment Management Inc. increased its position in Lyell Immunopharma by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 85,423 shares of the company's stock valued at $2,629,000 after purchasing an additional 5,913 shares during the period. 66.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stifel Nicolaus began coverage on shares of Lyell Immunopharma in a research note on Thursday. They issued a "buy" rating and a $36.00 price target for the company. Wall Street Zen raised Lyell Immunopharma from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Zacks Research upgraded Lyell Immunopharma from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. Needham & Company LLC reissued a "buy" rating and issued a $44.00 target price on shares of Lyell Immunopharma in a research note on Monday, June 15th. Finally, Robert W. Baird set a $49.00 target price on Lyell Immunopharma and gave the company an "outperform" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Lyell Immunopharma Company 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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