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

Lyell Immunopharma, Inc. (NASDAQ:LYEL) gapped up prior to trading on Friday . The stock had previously closed at $24.12, but opened at $25.81. Lyell Immunopharma shares last traded at $25.5950, with a volume of 3,805 shares traded.

Wall Street Analysts Forecast Growth

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

Lyell Immunopharma Stock Performance

The company has a market cap of $536.52 million, a P/E ratio of -1.10 and a beta of -0.13. The firm has a 50 day moving average price of $27.14 and a 200-day moving average price of $18.32.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Lyell Immunopharma by 773.5% during the first quarter. AQR Capital Management LLC now owns 174,279 shares of the company’s stock valued at $94,000 after acquiring an additional 154,327 shares during the period. Acadian Asset Management LLC increased its stake in shares of Lyell Immunopharma by 204.2% in the first quarter. Acadian Asset Management LLC now owns 660,899 shares of the company’s stock worth $354,000 after purchasing an additional 443,614 shares during the period. Walleye Capital LLC acquired a new position in shares of Lyell Immunopharma during the 2nd quarter worth about $258,000. Marshall Wace LLP bought a new stake in Lyell Immunopharma during the 2nd quarter valued at approximately $94,000. Finally, RBF Capital LLC acquired a new stake in Lyell Immunopharma in the 2nd quarter valued at approximately $884,000. 66.05% of the stock is currently 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.