Lyell Immunopharma (NASDAQ:LYEL) Shares Gap Down – Here’s What Happened

Lyell Immunopharma, Inc. (NASDAQ:LYEL) gapped down before the market opened on Wednesday . The stock had previously closed at $25.38, but opened at $24.39. Lyell Immunopharma shares last traded at $24.81, with a volume of 102,110 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LYEL shares. HC Wainwright upgraded Lyell Immunopharma from a “neutral” rating to a “buy” rating and boosted their price target for the company from $20.00 to $45.00 in a report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lyell Immunopharma in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Lyell Immunopharma Trading Down 3.9%

The stock’s 50-day moving average is $27.86 and its 200-day moving average is $20.03. The stock has a market cap of $518.26 million, a price-to-earnings ratio of -1.06 and a beta of -0.14.

Insider Activity

In other Lyell Immunopharma news, CEO Lynn Seely sold 7,455 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $23.39, for a total transaction of $174,372.45. Following the transaction, the chief executive officer owned 74,266 shares in the company, valued at $1,737,081.74. The trade was a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen J. Hill sold 1,236 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $23.39, for a total value of $28,910.04. Following the completion of the sale, the chief operating officer directly owned 17,795 shares of the company’s stock, valued at $416,225.05. The trade was a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,310 shares of company stock valued at $264,285. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On Lyell Immunopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clarius Group LLC raised its stake in shares of Lyell Immunopharma by 4.3% during the third quarter. Clarius Group LLC now owns 19,958 shares of the company’s stock valued at $324,000 after purchasing an additional 820 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Lyell Immunopharma by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 85,423 shares of the company’s stock worth $2,629,000 after buying an additional 5,913 shares during the period. BBR Partners LLC acquired a new position in Lyell Immunopharma in the 4th quarter worth $210,000. ExodusPoint Capital Management LP purchased a new position in Lyell Immunopharma in the 4th quarter valued at about $262,000. Finally, Marshall Wace LLP acquired a new stake in shares of Lyell Immunopharma during the second quarter valued at about $94,000. 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.