Lyell Immunopharma (NASDAQ:LYEL) Trading Down 7.5%

Lyell Immunopharma, Inc. (NASDAQ:LYEL - Get Free Report)'s share price dropped 7.5% during mid-day trading on Wednesday . The company traded as low as $2.32 and last traded at $2.33. Approximately 283,291 shares changed hands during trading, a decline of 71% from the average daily volume of 961,310 shares. The stock had previously closed at $2.52.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price objective on shares of Lyell Immunopharma from $8.00 to $6.00 and set a "buy" rating for the company in a report on Thursday, February 29th.

Lyell Immunopharma Stock Down 2.8 %

The stock's 50-day simple moving average is $2.17 and its 200 day simple moving average is $1.96. The company has a market cap of $622.55 million, a price-to-earnings ratio of -2.54 and a beta of -0.56.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. The business had revenue of $0.01 million for the quarter, compared to analysts' expectations of $4.96 million. Lyell Immunopharma had a negative net margin of 180,486.14% and a negative return on equity of 32.67%. On average, sell-side analysts expect that Lyell Immunopharma, Inc. will post -0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Lyell Immunopharma

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Lyell Immunopharma by 251.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 10,687 shares of the company's stock valued at $25,000 after buying an additional 7,650 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Lyell Immunopharma by 3,125.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,902 shares of the company's stock valued at $27,000 after acquiring an additional 7,657 shares during the last quarter. Virtu Financial LLC acquired a new stake in Lyell Immunopharma during the 4th quarter worth approximately $29,000. Ethic Inc. acquired a new stake in Lyell Immunopharma during the 1st quarter worth approximately $30,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Lyell Immunopharma during the 4th quarter worth approximately $31,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Lyell Immunopharma Company Profile

Lyell Immunopharma, Inc, a clinical-stage cell therapy company, develops T cell reprogramming technologies for patients with solid tumors. The company develops therapies using an ex vivo genetic reprogramming technologies, such as c Jun overexpression and NR4A3 gene knockout, to endow resistance to T cell exhaustion; and an ex vivo epigenetic reprogramming technologies, including Epi R to generate population of T cells with durable stemness, and Stim R, a proprietary synthetic cell mimetic.