HC Wainwright Has Lowered Expectations for Lyell Immunopharma (NASDAQ:LYEL) Stock Price

Lyell Immunopharma (NASDAQ:LYEL) had its target price cut by equities research analysts at HC Wainwright from $45.00 to $39.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright‘s price objective points to a potential upside of 172.73% from the stock’s current price.

A number of other equities analysts also recently issued reports on LYEL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lyell Immunopharma in a report on Thursday, October 15th. B. Riley Financial began coverage on shares of Lyell Immunopharma in a report on Wednesday, July 22nd. They set a “buy” rating and a $44.00 price objective on the stock. Royal Bank Of Canada set a $34.00 price objective on shares of Lyell Immunopharma in a research report on Friday, August 14th. Stifel Nicolaus assumed coverage on shares of Lyell Immunopharma in a report on Thursday, August 6th. They issued a “buy” rating and a $36.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $44.00 target price on shares of Lyell Immunopharma in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyell Immunopharma has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Lyell Immunopharma Stock Performance

NASDAQ LYEL traded down $1.34 during trading on Friday, reaching $14.30. 236,618 shares of the company’s stock were exchanged, compared to its average volume of 231,377. The company has a 50 day moving average price of $10.99 and a two-hundred day moving average price of $16.41. The stock has a market cap of $351.64 million, a P/E ratio of -1.14 and a beta of -0.04. Lyell Immunopharma has a 1 year low of $7.20 and a 1 year high of $45.00.

Lyell Immunopharma (NASDAQ:LYEL) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($1.86) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.15. Lyell Immunopharma had a negative return on equity of 107.62% and a negative net margin of 1,701,066.75%. The business had revenue of $0.00 million for the quarter, compared to the consensus estimate of $0.00 million. Research analysts forecast that Lyell Immunopharma will post -7.16 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Venture Fund Xiii L.P. Arch bought 2,321,262 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was purchased at an average cost of $10.77 per share, with a total value of $24,999,991.74. Following the transaction, the insider directly owned 3,747,790 shares in the company, valued at $40,363,698.30. This trade represents a 162.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Arch Venture Partners Ix, Llc bought 2,321,262 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was purchased at an average cost of $10.77 per share, with a total value of $24,999,991.74. Following the completion of the transaction, the insider owned 3,747,790 shares in the company, valued at approximately $40,363,698.30. This trade represents a 162.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 2,100 shares of company stock valued at $28,757 over the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Lyell Immunopharma

Several large investors have recently modified their holdings of LYEL. Renaissance Technologies LLC grew its position in shares of Lyell Immunopharma by 194.8% during the first quarter. Renaissance Technologies LLC now owns 116,411 shares of the company’s stock worth $2,335,000 after acquiring an additional 76,921 shares during the last quarter. Opaleye Management Inc. raised its position in Lyell Immunopharma by 334.9% in the 2nd quarter. Opaleye Management Inc. now owns 344,025 shares of the company’s stock valued at $4,834,000 after purchasing an additional 264,928 shares during the last quarter. venBio Partners LLC purchased a new stake in Lyell Immunopharma in the 2nd quarter valued at $4,744,643. Dimensional Fund Advisors LP purchased a new stake in Lyell Immunopharma in the 1st quarter valued at $959,000. Finally, Empowered Funds LLC acquired a new stake in Lyell Immunopharma during the 3rd quarter worth $246,000. 66.05% of the stock is owned by institutional investors and hedge funds.

Lyell Immunopharma Company Profile

Lyell Immunopharma is a clinical-stage biotechnology company developing engineered T-cell therapies for people with cancer, with a focus on solid tumors. Its research aims to improve T cells’ ability to recognize and attack cancer cells and to remain active in the challenging environment inside tumors. The company’s investigational programs have included CAR T-cell and tumor-infiltrating lymphocyte (TIL) therapies. These approaches use a patient’s own immune cells, which are modified or selected and expanded before being administered as a potential treatment.