Lyell Immunopharma (NASDAQ:LYEL) Shares Up 6.4% – Here’s What Happened

Lyell Immunopharma, Inc. (NASDAQ:LYEL) shares rose 6.4% during mid-day trading on Wednesday . The stock traded as high as $14.60 and last traded at $14.26. Approximately 144,177 shares changed hands during trading, a decline of 43% from the average session volume of 254,397 shares. The stock had previously closed at $13.40.

Analysts Set New Price Targets

Several research firms recently weighed in on LYEL. Citizens Jmp reaffirmed a “market outperform” rating and issued a $34.00 price objective on shares of Lyell Immunopharma in a report on Monday, June 15th. Robert W. Baird set a $49.00 target price on Lyell Immunopharma and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Lyell Immunopharma in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lyell Immunopharma in a research note on Tuesday, April 21st. Finally, Citigroup reiterated a “market outperform” rating on shares of Lyell Immunopharma in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Lyell Immunopharma Stock Performance

The company has a 50-day moving average of $14.99 and a 200 day moving average of $20.64. The firm has a market cap of $349.37 million, a P/E ratio of -1.03 and a beta of -0.06.

Lyell Immunopharma (NASDAQ:LYEL) last announced its earnings results on Wednesday, May 6th. The company reported ($1.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.10). Lyell Immunopharma had a negative return on equity of 85.71% and a negative net margin of 794,858.12%.The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $0.00 million. Sell-side analysts anticipate that Lyell Immunopharma, Inc. will post -7.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Lyell Immunopharma

Several hedge funds have recently made changes to their positions in the business. BBR Partners LLC bought a new stake in shares of Lyell Immunopharma during the 4th quarter worth approximately $210,000. ExodusPoint Capital Management LP bought a new stake in shares of Lyell Immunopharma in the fourth quarter valued at about $262,000. Marshall Wace LLP acquired a new position in shares of Lyell Immunopharma during the 2nd quarter worth approximately $94,000. Jane Street Group LLC acquired a new stake in Lyell Immunopharma during the fourth quarter worth approximately $382,000. Finally, Barclays PLC increased its position in shares of Lyell Immunopharma by 1,239.5% in the fourth quarter. Barclays PLC now owns 15,967 shares of the company’s stock worth $491,000 after purchasing an additional 14,775 shares during the period. 66.05% of the stock is owned by institutional investors.

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.