Lyell Immunopharma (NASDAQ:LYEL) Shares Up 6.4% - Here's Why

Key Points

• Lyell Immunopharma shares rose 6.4% in Wednesday trading, reaching as high as $14.60 before last trading at $14.26. Volume was lighter than usual, with about 144,177 shares changing hands.
• Analyst sentiment has improved, with recent upgrades from Zacks Research and Wall Street Zen to “hold,” while HC Wainwright and Needham reiterated buy ratings with price targets of $45 and $44, respectively. The stock now carries an average “Moderate Buy” rating and a $43 average target price.
• The company remains a high-risk biotech play, with a market cap of about $349 million and no revenue reported in the latest quarter. Lyell is a clinical-stage cancer immunotherapy developer focused on T cell therapies for solid tumors such as melanoma, ovarian, and pancreatic cancers.

Lyell Immunopharma, Inc. (NASDAQ:LYEL - Get Free Report) rose 6.4% during mid-day trading on Wednesday . The company traded as high as $14.60 and last traded at $14.26. Approximately 144,177 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 254,397 shares. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research upgraded Lyell Immunopharma from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of Lyell Immunopharma from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. HC Wainwright restated a "buy" rating and set a $45.00 price target on shares of Lyell Immunopharma in a research note on Tuesday, June 9th. Needham & Company LLC reissued a "buy" rating and set a $44.00 price objective on shares of Lyell Immunopharma in a research report on Monday, June 15th. Finally, Citigroup reiterated a "market outperform" rating on shares of Lyell Immunopharma in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $43.00.

Lyell Immunopharma Trading Up 6.4%

The stock has a market capitalization of $349.37 million, a price-to-earnings ratio of -1.03 and a beta of -0.06. The stock's 50 day moving average is $14.99 and its 200 day moving average is $20.64.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($1.10) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($1.10). Lyell Immunopharma had a negative net margin of 794,858.12% and a negative return on equity of 85.71%. The company had revenue of $0.00 million during the quarter, compared to analysts' expectations of $0.00 million. On average, sell-side analysts anticipate that Lyell Immunopharma, Inc. will post -7.87 EPS for the current year.

Institutional Investors Weigh In On Lyell Immunopharma

Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in shares of Lyell Immunopharma by 773.5% in the first quarter. AQR Capital Management LLC now owns 174,279 shares of the company's stock worth $94,000 after acquiring an additional 154,327 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Lyell Immunopharma in the second quarter worth $94,000. Bridgeway Capital Management LLC acquired a new stake in shares of Lyell Immunopharma in the 2nd quarter valued at about $159,000. BBR Partners LLC acquired a new stake in Lyell Immunopharma during the fourth quarter valued at approximately $210,000. Finally, Walleye Capital LLC bought a new position in Lyell Immunopharma during the second quarter worth $258,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

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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