Lyell Immunopharma (NASDAQ:LYEL) Earns Buy Rating from Needham & Company LLC

Lyell Immunopharma (NASDAQ:LYEL)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $44.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 258.16% from the company’s current price.

A number of other research analysts have also commented on LYEL. Citizens Jmp started coverage on Lyell Immunopharma in a report on Monday, March 9th. They issued a “market outperform” rating and a $34.00 price objective on the stock. Zacks Research raised Lyell Immunopharma from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Lyell Immunopharma in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lyell Immunopharma in a report on Tuesday, April 21st. Finally, Wall Street Zen raised Lyell Immunopharma from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Lyell Immunopharma Stock Performance

Shares of NASDAQ LYEL traded up $0.32 during midday trading on Monday, reaching $12.29. 33,065 shares of the company traded hands, compared to its average volume of 96,139. The firm has a market cap of $286.61 million, a PE ratio of -0.89 and a beta of -0.09. The stock’s 50-day simple moving average is $19.87 and its 200-day simple moving average is $23.47. Lyell Immunopharma has a 12 month low of $8.46 and a 12 month high of $45.00.

Lyell Immunopharma (NASDAQ:LYEL) last announced its earnings results on Wednesday, May 6th. The company reported ($1.10) EPS for the quarter, hitting the consensus estimate of ($1.10). The firm had revenue of $0.00 million for the quarter, compared to the consensus estimate of $0.00 million. Lyell Immunopharma had a negative net margin of 794,858.12% and a negative return on equity of 85.71%. On average, equities research analysts expect that Lyell Immunopharma will post -7.87 EPS for the current year.

Institutional Trading of Lyell Immunopharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Lyell Immunopharma by 773.5% during the 1st quarter. AQR Capital Management LLC now owns 174,279 shares of the company’s stock valued at $94,000 after purchasing an additional 154,327 shares during the period. Marshall Wace LLP purchased a new position in Lyell Immunopharma during the second quarter worth about $94,000. Bridgeway Capital Management LLC purchased a new position in Lyell Immunopharma during the second quarter worth about $159,000. BBR Partners LLC purchased a new position in Lyell Immunopharma during the fourth quarter worth about $210,000. Finally, Walleye Capital LLC purchased a new position in Lyell Immunopharma during the second quarter worth about $258,000. 66.05% of the stock is currently owned by 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.