Lyell Immunopharma (NASDAQ:LYEL) Shares Gap Down – Here’s Why

Lyell Immunopharma, Inc. (NASDAQ:LYEL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $25.38, but opened at $24.39. Lyell Immunopharma shares last traded at $24.81, with a volume of 102,110 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on LYEL shares. HC Wainwright raised Lyell Immunopharma from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $45.00 in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lyell Immunopharma in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Lyell Immunopharma Stock Down 3.9%

The firm has a fifty day moving average of $27.86 and a 200-day moving average of $20.03. The stock has a market capitalization of $518.26 million, a price-to-earnings ratio of -1.06 and a beta of -0.14.

Insider Buying and Selling

In other news, COO Stephen J. Hill sold 1,236 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $23.39, for a total transaction of $28,910.04. Following the completion of the transaction, the chief operating officer directly owned 17,795 shares of the company’s stock, valued at $416,225.05. This trade represents a 6.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary K. Lee sold 1,671 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $23.39, for a total value of $39,084.69. Following the completion of the sale, the insider directly owned 16,938 shares in the company, valued at approximately $396,179.82. The trade was a 8.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,310 shares of company stock worth $264,285 in the last three months. Corporate insiders own 22.30% of the company’s stock.

Institutional Trading of Lyell Immunopharma

Institutional investors and hedge funds have recently made changes to their positions in the stock. MWG Caph Ltd purchased a new stake in Lyell Immunopharma during the 4th quarter worth about $31,030,000. ExodusPoint Capital Management LP acquired a new stake in shares of Lyell Immunopharma during the 4th quarter worth about $262,000. Barclays PLC boosted its stake in shares of Lyell Immunopharma by 1,239.5% during the 4th quarter. Barclays PLC now owns 15,967 shares of the company’s stock worth $491,000 after purchasing an additional 14,775 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Lyell Immunopharma during the fourth quarter worth about $2,257,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Lyell Immunopharma by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 85,423 shares of the company’s stock valued at $2,629,000 after buying an additional 5,913 shares during the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Lyell Immunopharma Company Profile

Lyell Immunopharma is a clinical-stage biotechnology company focused on developing next-generation T cell therapies for cancer. Leveraging a proprietary platform that combines cell therapy, gene editing and molecular discovery, Lyell seeks to overcome key barriers in the treatment of solid tumors. The company’s approach centers on engineering T cells to enhance their persistence, functionality and resistance to the immunosuppressive tumor microenvironment.

The company’s pipeline includes multiple autologous T cell programs engineered to target tumor-associated antigens in solid malignancies such as melanoma, ovarian and pancreatic cancers.