Lyell Immunopharma (NASDAQ:LYEL) Stock Rating Lowered by Bank of America

Lyell Immunopharma (NASDAQ:LYEL) was downgraded by analysts at Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $1.00 target price on the stock, down from their prior target price of $6.00. Bank of America‘s target price points to a potential upside of 4.13% from the company’s previous close.

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

Lyell Immunopharma Price Performance

Shares of Lyell Immunopharma stock opened at $0.96 on Wednesday. Lyell Immunopharma has a fifty-two week low of $0.85 and a fifty-two week high of $3.26. The firm has a market capitalization of $245.84 million, a P/E ratio of -1.17 and a beta of -0.53. The company’s 50 day moving average price is $1.26 and its two-hundred day moving average price is $1.76.

Lyell Immunopharma (NASDAQ:LYEL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02. The company had revenue of $0.01 million for the quarter. Lyell Immunopharma had a negative net margin of 389,368.50% and a negative return on equity of 33.35%. On average, analysts expect that Lyell Immunopharma will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Lyell Immunopharma

A number of hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new position in Lyell Immunopharma during the first quarter worth $191,000. Acadian Asset Management LLC bought a new position in Lyell Immunopharma during the first quarter worth $173,000. TD Asset Management Inc raised its stake in 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 buying an additional 40,800 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 buying an additional 69,712 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in 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 buying an additional 36,715 shares during the last quarter. Institutional investors and hedge funds own 66.05% of the company’s stock.

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.