Lyell Immunopharma (NASDAQ:LYEL) Stock Price Down 6.7% – Here’s What Happened

Lyell Immunopharma, Inc. (NASDAQ:LYEL) shares traded down 6.7% during mid-day trading on Friday . The company traded as low as $36.00 and last traded at $36.02. 25,191 shares were traded during trading, a decline of 65% from the average session volume of 72,953 shares. The stock had previously closed at $38.60.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LYEL. HC Wainwright upgraded shares of Lyell Immunopharma from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $45.00 in a report on Tuesday, December 9th. Wall Street Zen raised shares of Lyell Immunopharma from a “sell” rating to a “hold” rating in a research note on Monday, September 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lyell Immunopharma in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.00.

Lyell Immunopharma Stock Down 8.1%

The stock has a market capitalization of $753.95 million, a P/E ratio of -1.54 and a beta of -0.11. The stock’s 50 day moving average price is $23.11 and its 200-day moving average price is $15.76.

Lyell Immunopharma (NASDAQ:LYEL) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($2.13) EPS for the quarter, topping the consensus estimate of ($2.81) by $0.68. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.01 million. Lyell Immunopharma had a negative return on equity of 96.68% and a negative net margin of 794,292.69%. Analysts anticipate that Lyell Immunopharma, Inc. will post -0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in Lyell Immunopharma by 773.5% in the 1st quarter. AQR Capital Management LLC now owns 174,279 shares of the company’s stock worth $94,000 after acquiring an additional 154,327 shares during the last quarter. Marshall Wace LLP purchased a new stake in Lyell Immunopharma during the 2nd quarter valued at about $94,000. Bridgeway Capital Management LLC acquired a new position in shares of Lyell Immunopharma in the second quarter valued at about $159,000. Walleye Capital LLC purchased a new position in shares of Lyell Immunopharma in the second quarter worth about $258,000. Finally, Clarius Group LLC lifted its holdings 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 worth $324,000 after purchasing an additional 820 shares during the period. Institutional investors and hedge funds own 66.05% of the company’s stock.

About Lyell Immunopharma

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.