Lyell Immunopharma’s (LYEL) “Buy” Rating Reaffirmed at Needham & Company LLC

Lyell Immunopharma (NASDAQ:LYEL)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $44.00 target price on the stock. Needham & Company LLC‘s target price points to a potential upside of 304.41% from the stock’s current price.

A number of other analysts have also recently weighed in on LYEL. Wall Street Zen upgraded shares of Lyell Immunopharma from a “sell” rating to a “hold” rating in a report on Sunday, October 25th. Citigroup reaffirmed a “market outperform” rating on shares of Lyell Immunopharma in a report on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lyell Immunopharma in a research report on Thursday, October 15th. Stifel Nicolaus assumed coverage on Lyell Immunopharma in a research note on Thursday, August 6th. They set a “buy” rating and a $36.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating on shares of Lyell Immunopharma in a report on Friday, September 11th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, Lyell Immunopharma currently has a consensus rating of “Moderate Buy” and an average target price of $40.86.

Lyell Immunopharma Trading Down 1.4%

Shares of NASDAQ LYEL opened at $10.88 on Tuesday. Lyell Immunopharma has a twelve month low of $7.20 and a twelve month high of $45.00. The company has a market capitalization of $266.60 million, a price-to-earnings ratio of -0.85 and a beta of -0.03. The firm has a 50-day moving average of $10.93 and a two-hundred day moving average of $16.83.

Lyell Immunopharma (NASDAQ:LYEL) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($1.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.94) by $0.02. Lyell Immunopharma had a negative net margin of 920,285.25% and a negative return on equity of 91.62%. The company had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $0.00 million. As a group, research analysts predict that Lyell Immunopharma will post -7.16 earnings per share for the current year.

Institutional Trading of Lyell Immunopharma

Several hedge funds and other institutional investors have recently modified their holdings of the business. Velan Capital Investment Management LP grew its holdings in shares of Lyell Immunopharma by 2.9% during the second quarter. Velan Capital Investment Management LP now owns 105,000 shares of the company’s stock valued at $1,475,000 after buying an additional 3,000 shares in the last quarter. Walleye Capital LLC purchased a new stake in Lyell Immunopharma in the 1st quarter worth about $445,000. Squarepoint Ops LLC lifted its stake in Lyell Immunopharma by 119.4% in the 2nd quarter. Squarepoint Ops LLC now owns 42,322 shares of the company’s stock worth $595,000 after acquiring an additional 23,028 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Lyell Immunopharma in the 2nd quarter worth about $347,000. Finally, Bank of America Corp DE boosted its position in Lyell Immunopharma by 314.2% during the 1st quarter. Bank of America Corp DE now owns 33,321 shares of the company’s stock worth $668,000 after acquiring an additional 25,276 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

About Lyell Immunopharma

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.