Lyell Immunopharma (NASDAQ:LYEL) Downgraded by Bank of America to Underperform

Bank of America cut shares of Lyell Immunopharma (NASDAQ:LYEL) from a buy rating to an underperform rating in a report published on Wednesday, MarketBeat.com reports. The firm currently has $1.00 price target on the stock, down from their previous price target of $6.00.

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

Lyell Immunopharma Price Performance

LYEL stock opened at $0.86 on Wednesday. The company has a market capitalization of $219.73 million, a P/E ratio of -1.05 and a beta of -0.53. Lyell Immunopharma has a 12 month low of $0.85 and a 12 month high of $3.26. The firm’s fifty day simple moving average is $1.27 and its 200-day simple moving average is $1.77.

Lyell Immunopharma (NASDAQ:LYEL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) 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 company had revenue of $0.01 million during the quarter. As a group, sell-side analysts forecast that Lyell Immunopharma will post -0.85 earnings per share for the current year.

Institutional Trading of Lyell Immunopharma

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Lyell Immunopharma by 197.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 40,098 shares of the company’s stock valued at $58,000 after purchasing an additional 26,635 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Lyell Immunopharma in the first quarter valued at about $64,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Lyell Immunopharma by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 49,238 shares of the company’s stock worth $68,000 after buying an additional 19,287 shares in the last quarter. SG Americas Securities LLC boosted its position in Lyell Immunopharma by 78.1% during the third quarter. SG Americas Securities LLC now owns 57,566 shares of the company’s stock worth $79,000 after acquiring an additional 25,247 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in Lyell Immunopharma by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 48,986 shares of the company’s stock valued at $109,000 after acquiring an additional 4,170 shares in the last quarter. 66.05% of the stock is currently 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.