Lyell Immunopharma (NASDAQ:LYEL) Announces Earnings Results

Lyell Immunopharma (NASDAQ:LYEL) released its quarterly earnings results on Wednesday. The company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($2.37) by $1.29, reports. Lyell Immunopharma had a negative net margin of 762,355.56% and a negative return on equity of 90.52%. The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $0.01 million.

Lyell Immunopharma Stock Up 1.1%

Shares of Lyell Immunopharma stock traded up $0.23 during trading on Wednesday, reaching $20.85. The company’s stock had a trading volume of 36,445 shares, compared to its average volume of 82,192. Lyell Immunopharma has a 52-week low of $7.65 and a 52-week high of $45.00. The company has a market cap of $486.43 million, a price-to-earnings ratio of -1.28 and a beta of -0.05. The firm’s 50-day moving average is $22.25 and its two-hundred day moving average is $23.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LYEL shares. Robert W. Baird set a $49.00 price target on shares of Lyell Immunopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Needham & Company LLC started coverage on shares of Lyell Immunopharma in a research note on Friday, April 10th. They issued a “buy” rating and a $44.00 price target for the company. Wall Street Zen cut shares of Lyell Immunopharma from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research cut shares of Lyell Immunopharma from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Finally, Citizens Jmp began coverage on shares of Lyell Immunopharma in a research note on Monday, March 9th. They issued a “market outperform” rating and a $34.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lyell Immunopharma has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Activity

In other news, insider Gary K. Lee sold 1,671 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $23.39, for a total value of $39,084.69. Following the completion of the sale, the insider owned 16,938 shares of the company’s stock, valued at approximately $396,179.82. This represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lynn Seely sold 7,455 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $23.39, for a total transaction of $174,372.45. Following the completion of the sale, the chief executive officer directly owned 74,266 shares of the company’s stock, valued at $1,737,081.74. This trade represents a 9.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 11,310 shares of company stock valued at $264,285. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Lyell Immunopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYEL. AQR Capital Management LLC raised its holdings in Lyell Immunopharma by 773.5% during the 1st quarter. AQR Capital Management LLC now owns 174,279 shares of the company’s stock valued at $94,000 after buying an additional 154,327 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Lyell Immunopharma by 204.2% during the 1st quarter. Acadian Asset Management LLC now owns 660,899 shares of the company’s stock valued at $354,000 after buying an additional 443,614 shares during the last quarter. Walleye Capital LLC bought a new stake in Lyell Immunopharma during the 2nd quarter valued at $258,000. Marshall Wace LLP bought a new stake in Lyell Immunopharma during the 2nd quarter valued at $94,000. Finally, Orbimed Advisors LLC bought a new stake in Lyell Immunopharma during the 2nd quarter valued at $457,000. 66.05% of the stock is currently 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.