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

Needham & Company LLC restated their buy rating on shares of Lyell Immunopharma (NASDAQ:LYEL) in a research note released on Friday morning,Benzinga reports. The firm currently has a $44.00 price objective on the stock.

LYEL has been the subject of several other reports. Citizens Jmp reaffirmed a “market outperform” rating and issued a $34.00 target price on shares of Lyell Immunopharma in a research report on Monday, June 15th. Zacks Research raised shares of Lyell Immunopharma from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. B. Riley Financial initiated coverage on shares of Lyell Immunopharma in a research report on Wednesday, July 22nd. They set a “buy” rating and a $44.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of Lyell Immunopharma in a research note on Tuesday, June 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lyell Immunopharma in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyell Immunopharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.86.

Lyell Immunopharma Stock Performance

NASDAQ:LYEL opened at $11.96 on Friday. The stock has a market capitalization of $293.02 million, a P/E ratio of -0.93 and a beta of -0.04. Lyell Immunopharma has a fifty-two week low of $11.47 and a fifty-two week high of $45.00. The company has a 50 day moving average price of $14.04 and a 200 day moving average price of $17.23.

Lyell Immunopharma (NASDAQ:LYEL) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.92) EPS for the quarter, topping the consensus estimate of ($1.94) by $0.02. Lyell Immunopharma had a negative return on equity of 91.62% and a negative net margin of 920,285.25%.The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $0.00 million. Research analysts forecast that Lyell Immunopharma will post -7.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LYEL. GSK plc acquired a new stake in shares of Lyell Immunopharma during the 4th quarter worth about $46,560,000. MWG Caph Ltd acquired a new position in Lyell Immunopharma in the fourth quarter valued at approximately $31,030,000. ARCH Venture Management LLC boosted its holdings in Lyell Immunopharma by 51.5% in the third quarter. ARCH Venture Management LLC now owns 2,759,072 shares of the company’s stock valued at $44,807,000 after purchasing an additional 938,438 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Lyell Immunopharma by 204.2% in the first quarter. Acadian Asset Management LLC now owns 660,899 shares of the company’s stock valued at $354,000 after purchasing an additional 443,614 shares in the last quarter. Finally, venBio Partners LLC purchased a new position in Lyell Immunopharma in the second quarter valued at approximately $4,744,643. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.