Lyell Immunopharma (NASDAQ:LYEL) Downgraded by Bank of America to “Underperform”

Bank of America cut shares of Lyell Immunopharma (NASDAQ:LYELFree Report) from a buy rating to an underperform rating in a research note released on Wednesday, Marketbeat Ratings reports. Bank of America currently has $1.00 target price on the stock, down from their prior target price of $6.00.

Separately, HC Wainwright reiterated a “neutral” rating and set a $1.00 price objective on shares of Lyell Immunopharma in a research note on Monday.

Get Our Latest Analysis on LYEL

Lyell Immunopharma Trading Down 9.5 %

NASDAQ LYEL opened at $0.86 on Wednesday. Lyell Immunopharma has a 12 month low of $0.85 and a 12 month high of $3.26. The company’s 50-day moving average price is $1.27 and its 200-day moving average price is $1.77. The stock has a market cap of $219.73 million, a PE ratio of -1.05 and a beta of -0.53.

Lyell Immunopharma (NASDAQ:LYELGet Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02. Lyell Immunopharma had a negative return on equity of 33.35% and a negative net margin of 389,368.50%. The business had revenue of $0.01 million during the quarter. As a group, sell-side analysts forecast that Lyell Immunopharma will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Lyell Immunopharma

Hedge funds have recently made changes to their positions in the stock. Opaleye Management Inc. purchased a new position in Lyell Immunopharma in the first quarter valued at about $7,482,000. Caxton Associates LP increased its position in shares of Lyell Immunopharma by 359.1% during the first quarter. Caxton Associates LP now owns 174,657 shares of the company’s stock worth $389,000 after purchasing an additional 136,611 shares in the last quarter. Invenomic Capital Management LP increased its position in Lyell Immunopharma by 16.8% during the 1st quarter. Invenomic Capital Management LP now owns 871,525 shares of the company’s stock valued at $1,944,000 after buying an additional 125,110 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Lyell Immunopharma by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,731,477 shares of the company’s stock valued at $15,013,000 after acquiring an additional 92,594 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Lyell Immunopharma during the 1st quarter valued at approximately $191,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

About Lyell Immunopharma

(Get Free Report)

Lyell Immunopharma, Inc, a clinical-stage cell therapy company, develops T cell reprogramming technologies for patients with solid tumors. The company develops therapies using an ex vivo genetic reprogramming technologies, such as c Jun overexpression and NR4A3 gene knockout, to endow resistance to T cell exhaustion; and an ex vivo epigenetic reprogramming technologies, including Epi R to generate population of T cells with durable stemness, and Stim R, a proprietary synthetic cell mimetic.

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