Lyell Immunopharma’s (LYEL) Buy Rating Reaffirmed at Needham & Company LLC

Lyell Immunopharma (NASDAQ:LYEL)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $44.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 225.93% from the stock’s current price.

LYEL has been the subject of a number of other research reports. Zacks Research raised shares of Lyell Immunopharma from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Citizens Jmp started coverage on Lyell Immunopharma in a report on Monday, March 9th. They set a “market outperform” rating and a $34.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Lyell Immunopharma in a research report on Tuesday, April 21st. Robert W. Baird set a $49.00 price objective on Lyell Immunopharma and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Citigroup restated a “market outperform” rating on shares of Lyell Immunopharma in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Lyell Immunopharma Price Performance

Lyell Immunopharma stock opened at $13.50 on Monday. The stock’s 50 day moving average is $19.17 and its 200 day moving average is $23.26. Lyell Immunopharma has a one year low of $8.46 and a one year high of $45.00. The firm has a market cap of $315.01 million, a P/E ratio of -0.98 and a beta of -0.09.

Lyell Immunopharma (NASDAQ:LYEL) last released 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). The business had revenue of $0.00 million during the quarter, compared to the consensus estimate of $0.00 million. Lyell Immunopharma had a negative net margin of 794,858.12% and a negative return on equity of 85.71%. Equities analysts anticipate that Lyell Immunopharma will post -7.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lyell Immunopharma

Several hedge funds and other institutional investors have recently bought and sold shares of LYEL. Charles Schwab Investment Management Inc. raised its holdings in shares of Lyell Immunopharma by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 85,423 shares of the company’s stock valued at $2,629,000 after purchasing an additional 5,913 shares during the period. BBR Partners LLC bought a new stake in Lyell Immunopharma in the 4th quarter valued at about $210,000. ExodusPoint Capital Management LP acquired a new position in Lyell Immunopharma during the 4th quarter worth approximately $262,000. Marshall Wace LLP acquired a new position in Lyell Immunopharma during the 2nd quarter worth approximately $94,000. Finally, Two Sigma Investments LP boosted its holdings in Lyell Immunopharma by 107.0% in the third quarter. Two Sigma Investments LP now owns 20,827 shares of the company’s stock worth $338,000 after acquiring an additional 10,768 shares in the last quarter. 66.05% of the stock is owned by institutional investors.

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.