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

Bank of America lowered shares of Lyell Immunopharma (NASDAQ:LYEL - Free Report) from a buy rating to an underperform rating in a research note published on Wednesday, Marketbeat Ratings reports. Bank of America currently has $1.00 target price on the stock, down from their prior target price of $6.00.

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

Lyell Immunopharma Stock Down 9.5 %

Shares of NASDAQ:LYEL traded down $0.09 on Wednesday, reaching $0.86. 2,116,818 shares of the company's stock were exchanged, compared to its average volume of 978,929. The business's 50-day moving average is $1.28 and its two-hundred day moving average is $1.78. 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 $219.73 million, a price-to-earnings ratio of -1.05 and a beta of -0.53.

Lyell Immunopharma (NASDAQ:LYEL - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.02. The firm 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%. Analysts predict that Lyell Immunopharma will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Lyell Immunopharma by 197.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 40,098 shares of the company's stock worth $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 during the first quarter valued at approximately $64,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Lyell Immunopharma by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 49,238 shares of the company's stock valued at $68,000 after acquiring an additional 19,287 shares during the period. SG Americas Securities LLC lifted its position in shares of Lyell Immunopharma by 78.1% in the 3rd quarter. SG Americas Securities LLC now owns 57,566 shares of the company's stock valued at $79,000 after acquiring an additional 25,247 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Lyell Immunopharma by 9.3% in the 1st quarter. ProShare Advisors LLC now owns 48,986 shares of the company's stock worth $109,000 after purchasing an additional 4,170 shares during the period. 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.