Lyell Immunopharma (NASDAQ:LYEL) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Lyell Immunopharma (NASDAQ:LYEL) issued its earnings results on Thursday. The company reported ($1.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.02) by $0.10, reports. Lyell Immunopharma had a negative return on equity of 87.60% and a negative net margin of 920,285.25%.The business had revenue of $0.00 million during the quarter, compared to the consensus estimate of $0.01 million.

Lyell Immunopharma Stock Performance

LYEL traded up $0.50 during midday trading on Friday, reaching $14.71. The company had a trading volume of 110,955 shares, compared to its average volume of 170,417. Lyell Immunopharma has a 12-month low of $9.28 and a 12-month high of $45.00. The business has a 50-day moving average price of $13.44 and a two-hundred day moving average price of $19.01. The stock has a market cap of $360.39 million, a PE ratio of -1.15 and a beta of -0.04.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LYEL shares. Stifel Nicolaus began coverage on shares of Lyell Immunopharma in a research report on Thursday. They set a “buy” rating and a $36.00 price objective for the company. Citigroup reissued a “market outperform” rating on shares of Lyell Immunopharma in a research note on Tuesday, June 9th. B. Riley Financial began coverage on Lyell Immunopharma in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $44.00 target price for the company. HC Wainwright restated a “buy” rating and set a $45.00 price objective on shares of Lyell Immunopharma in a report on Tuesday, June 9th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $34.00 target price on shares of Lyell Immunopharma in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional Investors Weigh In On Lyell Immunopharma

A number of hedge funds have recently modified their holdings of LYEL. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lyell Immunopharma by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 85,423 shares of the company’s stock worth $2,629,000 after acquiring an additional 5,913 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Lyell Immunopharma during the 4th quarter worth about $262,000. Marshall Wace LLP bought a new position in Lyell Immunopharma in the 2nd quarter worth about $94,000. Two Sigma Investments LP boosted its stake in Lyell Immunopharma by 107.0% in the 3rd quarter. Two Sigma Investments LP now owns 20,827 shares of the company’s stock worth $338,000 after purchasing an additional 10,768 shares during the period. Finally, Jane Street Group LLC bought a new position in Lyell Immunopharma in the 4th quarter worth about $382,000. Institutional investors own 66.05% of the company’s stock.

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.