Needham & Company LLC Reaffirms Buy Rating for Lyell Immunopharma (NASDAQ:LYEL)

Lyell Immunopharma (NASDAQ:LYEL)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $44.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 260.66% from the company’s current price.

A number of other research firms also recently commented on LYEL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lyell Immunopharma in a research note on Friday, July 17th. Zacks Research upgraded shares of Lyell Immunopharma from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of Lyell Immunopharma in a report on Tuesday, June 9th. Royal Bank Of Canada set a $34.00 target price on shares of Lyell Immunopharma in a research report on Friday, August 14th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $34.00 target price on shares of Lyell Immunopharma in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.86.

Lyell Immunopharma Price Performance

Lyell Immunopharma stock opened at $12.20 on Friday. The firm has a market cap of $298.90 million, a PE ratio of -0.95 and a beta of -0.04. The stock’s fifty day moving average price is $14.08 and its two-hundred day moving average price is $17.31. Lyell Immunopharma has a one year low of $11.47 and a one year high of $45.00.

Lyell Immunopharma (NASDAQ:LYEL) last released its earnings results on Thursday, August 6th. The company reported ($1.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.94) by $0.02. The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $0.00 million. Lyell Immunopharma had a negative return on equity of 91.62% and a negative net margin of 920,285.25%. Sell-side analysts expect that Lyell Immunopharma will post -7.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lyell Immunopharma

A number of institutional investors have recently modified their holdings of LYEL. Opaleye Management Inc. lifted its position in shares of Lyell Immunopharma by 334.9% during the 2nd quarter. Opaleye Management Inc. now owns 344,025 shares of the company’s stock worth $4,834,000 after buying an additional 264,928 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Lyell Immunopharma by 119.4% in the second quarter. Squarepoint Ops LLC now owns 42,322 shares of the company’s stock valued at $595,000 after buying an additional 23,028 shares in the last quarter. Velan Capital Investment Management LP grew its position in Lyell Immunopharma by 2.9% in the second quarter. Velan Capital Investment Management LP now owns 105,000 shares of the company’s stock valued at $1,475,000 after acquiring an additional 3,000 shares during the last quarter. venBio Partners LLC bought a new position in Lyell Immunopharma in the second quarter valued at about $4,744,643. Finally, Bank of New York Mellon Corp acquired a new position in Lyell Immunopharma during the second quarter worth about $347,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

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.