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

Lyell Immunopharma (NASDAQ:LYEL) was downgraded by investment analysts at Bank of America from a “buy” rating to an “underperform” rating in a note issued to investors on Wednesday, Briefing.com reports. They currently have a $1.00 price objective on the stock, down from their prior price objective of $6.00. Bank of America‘s target price indicates a potential upside of 5.47% from the stock’s current price.

Separately, HC Wainwright reissued a “neutral” rating and issued a $1.00 price objective on shares of Lyell Immunopharma in a report on Monday.

Lyell Immunopharma Trading Up 1.3 %

Shares of LYEL opened at $0.95 on Wednesday. Lyell Immunopharma has a 12 month low of $0.86 and a 12 month high of $3.26. The firm has a fifty day simple moving average of $1.28 and a 200 day simple moving average of $1.78. The stock has a market capitalization of $241.71 million, a price-to-earnings ratio of -1.05 and a beta of -0.53.

Lyell Immunopharma (NASDAQ:LYEL) last released its 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 business had revenue of $0.01 million for the quarter. As a group, research analysts predict that Lyell Immunopharma will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lyell Immunopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of LYEL. China Universal Asset Management Co. Ltd. lifted its position 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 valued at $68,000 after buying an additional 19,287 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Lyell Immunopharma by 37.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 135,050 shares of the company’s stock valued at $186,000 after acquiring an additional 36,715 shares during the period. SG Americas Securities LLC lifted its holdings in Lyell Immunopharma by 78.1% during the 3rd quarter. SG Americas Securities LLC now owns 57,566 shares of the company’s stock valued at $79,000 after purchasing an additional 25,247 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in Lyell Immunopharma by 49.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 128,203 shares of the company’s stock worth $186,000 after purchasing an additional 42,452 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Lyell Immunopharma by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 553,163 shares of the company’s stock valued at $802,000 after purchasing an additional 69,712 shares during the last quarter. Institutional investors own 66.05% of the company’s stock.

About Lyell Immunopharma

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.