Lyell Immunopharma (NASDAQ:LYEL) Cut to Underperform at Bank of America

Bank of America downgraded shares of Lyell Immunopharma (NASDAQ:LYEL) from a buy rating to an underperform rating in a research report released on Wednesday morning, MarketBeat Ratings reports. Bank of America currently has $1.00 price objective on the stock, down from their previous price objective of $6.00.

Separately, HC Wainwright reiterated a “neutral” rating and issued a $1.00 target price on shares of Lyell Immunopharma in a report on Monday, October 28th.

Lyell Immunopharma Trading Up 16.6 %

Shares of Lyell Immunopharma stock opened at $1.12 on Wednesday. Lyell Immunopharma has a twelve month low of $0.85 and a twelve month high of $3.26. The stock has a market capitalization of $286.72 million, a P/E ratio of -1.37 and a beta of -0.53. The business’s fifty day moving average price is $1.25 and its 200 day moving average price is $1.76.

Lyell Immunopharma (NASDAQ:LYEL) 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 firm had revenue of $0.01 million for the quarter. As a group, sell-side analysts predict that Lyell Immunopharma will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new position in Lyell Immunopharma in the first quarter valued at about $191,000. Acadian Asset Management LLC purchased a new stake in shares of Lyell Immunopharma during the first quarter worth about $173,000. TD Asset Management Inc increased its position in shares of Lyell Immunopharma by 4.2% during the second quarter. TD Asset Management Inc now owns 1,004,642 shares of the company’s stock worth $1,457,000 after acquiring an additional 40,800 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Lyell Immunopharma by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 553,163 shares of the company’s stock worth $802,000 after acquiring an additional 69,712 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Lyell Immunopharma by 37.3% during the third quarter. Exchange Traded Concepts LLC now owns 135,050 shares of the company’s stock worth $186,000 after acquiring an additional 36,715 shares during the last quarter. 66.05% of the stock is owned by hedge funds and other institutional investors.

Lyell Immunopharma Company Profile

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.