Lyell Immunopharma (NASDAQ:LYEL) Stock Price Down 4.6% – Here’s What Happened

Shares of Lyell Immunopharma, Inc. (NASDAQ:LYEL) were down 4.6% during mid-day trading on Friday . The company traded as low as $29.71 and last traded at $29.35. Approximately 12,364 shares changed hands during trading, a decline of 83% from the average daily volume of 74,330 shares. The stock had previously closed at $30.78.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LYEL. Weiss Ratings restated a “sell (d-)” rating on shares of Lyell Immunopharma in a research note on Wednesday, October 8th. HC Wainwright raised Lyell Immunopharma from a “neutral” rating to a “buy” rating and raised their target price for the company from $20.00 to $45.00 in a report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Lyell Immunopharma currently has a consensus rating of “Hold” and a consensus price target of $45.00.

Lyell Immunopharma Stock Performance

The firm has a market cap of $615.54 million, a price-to-earnings ratio of -1.26 and a beta of -0.13. The business has a fifty day moving average of $24.88 and a two-hundred day moving average of $16.71.

Lyell Immunopharma (NASDAQ:LYEL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($2.13) earnings per share (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 analysts’ expectations of $0.01 million. Lyell Immunopharma had a negative return on equity of 96.68% and a negative net margin of 794,292.69%. On average, equities research analysts forecast that Lyell Immunopharma, Inc. will post -0.78 earnings per share for the current year.

Institutional Investors Weigh In On Lyell Immunopharma

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Lyell Immunopharma by 773.5% during the first 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 position in shares of Lyell Immunopharma during the 2nd quarter worth approximately $94,000. Bridgeway Capital Management LLC purchased a new position in shares of Lyell Immunopharma during the 2nd quarter worth approximately $159,000. Walleye Capital LLC acquired a new position in shares of Lyell Immunopharma during the 2nd quarter worth approximately $258,000. Finally, Clarius Group LLC lifted its stake in Lyell Immunopharma by 4.3% in the 3rd quarter. Clarius Group LLC now owns 19,958 shares of the company’s stock valued at $324,000 after buying an additional 820 shares in the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

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.