Lyell Immunopharma (LYEL) AI Stock Analysis

• Market Cap: $526.21M
• Dividend Yield: N/A
• Average Volume (3M): 99.39K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.65
• Revenue Growth: -34.92%
• EPS Growth: -43.26%
• Country: US
• Employees: 300
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -2.13
• Shares Outstanding: 21,243,954
• 10 Day Avg. Volume: 78,384
• 30 Day Avg. Volume: 99,394
• PEG Ratio: -0.01
• Price to Book (P/B): 0.44
• Price to Sales (P/S): 2743.40
• P/FCF Ratio: -1.03
• Enterprise Value/Market Cap: 0.83
• Enterprise Value/Revenue: 10.59K
• Enterprise Value/Gross Profit: 10.59K
• Enterprise Value/Ebitda: -2.28
• 1Y Price Target: $28.50
• Price Target Upside: 10.59% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): -9.05
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $26.00 ▲(0.89% Upside)

The score is held down primarily by very weak financial performance (sharp revenue decline, severe losses, and cash flow pressure). Offsetting this, technicals show a clear uptrend with positive momentum, and recent pipeline/clinical and licensing updates are positive, but valuation support is limited due to negative earnings and no dividend yield.

Positive Factors

Promising clinical data (ronde-cel)

High objective response rates and a manageable safety profile for ronde-cel represent durable clinical differentiation versus existing options. Strong efficacy signals in heavily pretreated lymphoma support advancement toward regulatory milestones, durable trial enrollment, and longer-term commercial potential if replicated.

Acquisition of LYL273 (solid-tumor license)

Securing global rights to LYL273 strategically broadens Lyell's solid-tumor footprint, diversifies the pipeline beyond lymphoma, and creates optionality for metastatic colorectal cancer. The deal adds development-stage assets and milestone upside that can materially strengthen long-term product prospects and partner leverage.

Manageable leverage

A low debt-to-equity ratio gives Lyell financial flexibility to fund ongoing R&D, clinical programs and licensing commitments without heavy interest burden. Manageable leverage reduces bankruptcy risk and supports the ability to raise incremental capital on acceptable terms when needed for multi-year development timelines.

Negative Factors

Steep revenue decline

A sustained revenue decline erodes internal funding capacity and heightens reliance on external financing. For a clinical-stage biotech, shrinking revenue signals limited commercial traction or milestone receipts, increasing execution risk for multi-year development programs and pressuring resource allocation decisions.

Extreme negative profitability

Very large negative net margins and operating losses indicate the company is burning capital at a high rate relative to revenue. Persistent unprofitability undermines ability to self-fund trials, may dilute shareholders via future financings, and reduces runway for strategic optionality absent material clinical or licensing milestones.

Weak cash generation

Negative operating cash flow and declining free cash flow growth show the business struggles to convert spending into positive cash generation. This structural cash weakness increases dependency on capital markets, can delay programs or milestone payments, and constrains long-term R&D execution without new funding.

Lyell Immunopharma Business Overview & Revenue Model

Company Description

Lyell Immunopharma, Inc., a T cell reprogramming company, engages in developing T cell therapies for patients with solid tumors. The company develops therapies using technology platforms, such as Gen-R, an ex vivo genetic reprogramming technology to overcome T cell exhaustion; and Epi-R, an ex vivo epigenetic reprogramming technology to generate population of T cells with durable stemness. Its pipeline includes LYL797, a T cell product candidate for the treatment of non-small cell lung cancer and triple negative breast cancers; LYL845, that targets multiple solid tumors; and NY-ESO-1 for synovial sarcoma and other solid tumor indications. The company entered into research and development collaboration and license agreement with GlaxoSmithKline for NY-ESO-1 program. Lyell Immunopharma, Inc. was incorporated in 2018 and is headquartered in South San Francisco, California.

How the Company Makes Money

Lyell Immunopharma generates revenue primarily through partnerships and collaborations with larger pharmaceutical companies, which may include upfront payments, milestone payments tied to clinical progress, and royalties on product sales. The company may also receive funding through government grants or research contracts aimed at advancing its therapeutic candidates. Additionally, if Lyell's therapies receive regulatory approval and reach the market, the company could generate significant revenue from the sale of its cell therapies, contributing to its overall financial performance.

Lyell Immunopharma Financial Statement Overview

Summary

Weak overall fundamentals driven by steep revenue decline (-31.67%), extremely negative profitability (net margin -5523.28%) and ongoing operating losses. Balance sheet leverage is manageable (debt-to-equity 0.16), but heavy losses (ROE -85.58%) and challenged operating cash generation limit the score.

Income Statement

Lyell Immunopharma's income statement reveals significant challenges. The company has experienced a substantial decline in revenue over the TTM period, with a negative revenue growth rate of -31.67%. Profitability metrics are concerning, with a net profit margin of -5523.28% and negative EBIT and EBITDA margins, indicating high operational losses relative to revenue. These figures highlight the company's struggle to achieve profitability and manage costs effectively.

Balance Sheet

The balance sheet shows a moderate level of financial stability. The debt-to-equity ratio is relatively low at 0.16, suggesting manageable leverage. However, the return on equity is negative at -85.58%, reflecting significant losses relative to shareholder equity. The equity ratio is not explicitly calculated, but the company's equity position appears stable compared to its total assets.

Cash Flow

Cash flow analysis indicates ongoing cash flow challenges. The operating cash flow to net income ratio is negative, and the free cash flow growth rate is slightly negative at -3.76%. The free cash flow to net income ratio is slightly above 1, suggesting that free cash flow is marginally covering net losses. Overall, the company faces difficulties in generating positive cash flow from operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	41.00K	61.00K	130.00K	84.68M	10.65M	7.76M
Gross Profit	41.00K	61.00K	130.00K	84.68M	10.65M	7.76M
EBITDA	-190.41M	-200.64M	-226.76M	-169.04M	-201.15M	-215.43M
Net Income	-325.66M	-342.99M	-234.63M	-183.12M	-250.22M	-204.47M
Balance Sheet
Total Assets	407.96M	490.86M	750.03M	937.56M	1.13B	908.28M
Cash, Cash Equivalents and Short-Term Investments	319.62M	370.53M	546.22M	640.15M	614.79M	612.62M
Total Debt	44.28M	58.97M	63.17M	67.70M	67.82M	54.57M
Total Liabilities	78.84M	108.03M	95.08M	104.31M	197.62M	189.84M
Stockholders Equity	329.12M	382.82M	654.95M	833.25M	929.79M	718.44M
Cash Flow
Free Cash Flow	-165.53M	-162.86M	-166.38M	-193.83M	-191.75M	-212.35M
Operating Cash Flow	-165.01M	-162.39M	-163.69M	-169.56M	-126.25M	-160.87M
Investing Cash Flow	138.97M	122.42M	184.05M	-11.54M	-121.57M	-273.52M
Financing Cash Flow	50.62M	1.33M	1.74M	10.63M	401.24M	476.79M

Lyell Immunopharma Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.77
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LYEL, the sentiment is Negative. The current price of 25.77 is above the 20-day moving average (MA) of 24.42, below the 50-day MA of 27.32, and above the 200-day MA of 15.91, indicating a neutral trend. The MACD of -0.75 indicates Negative momentum. The RSI at 44.15 is Neutral, neither overbought nor oversold. The STOCH value of 41.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LYEL.

Lyell Immunopharma Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LYEL	52 Neutral	$526.21M	-1.12	-75.75%	―	-34.92%	-43.26%
RCKT	52 Neutral	$376.61M	-1.54	-74.88%	―	―	18.39%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MREO	45 Neutral	$68.81M	-1.60	-69.98%	―	―	―
REPL	45 Neutral	$547.14M	-2.06	-90.88%	―	―	-15.77%
EDIT	41 Neutral	$196.21M	-0.87	-211.37%	―	-24.90%	7.19%

Lyell Immunopharma Corporate Events

Lyell Immunopharma Presents Promising CAR T-Cell Data

On December 7, 2025, Lyell Immunopharma presented promising data at the American Society of Hematology Annual Meeting from its clinical trial of ronde-cel, a CAR T-cell product for treating relapsed or refractory large B-cell lymphoma. The trial showed high response rates and manageable safety profiles, with 93% overall response in third-line patients and 83% in second-line patients, indicating potential advancements in treatment options for heavily pre-treated patients.

The most recent analyst rating on (LYEL) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Lyell Immunopharma stock, see the LYEL Stock Forecast page.

Lyell Immunopharma Modernizes Bylaws for Shareholder Engagement

On December 3, 2025, Lyell Immunopharma‘s Board of Directors amended the company’s bylaws to modernize stockholder proposal procedures and disclosure requirements. These changes aim to streamline processes, clarify voting standards, and ensure compliance with Delaware General Corporation Law, potentially impacting shareholder engagement and corporate governance.

The most recent analyst rating on (LYEL) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Lyell Immunopharma stock, see the LYEL Stock Forecast page.

Lyell Immunopharma Secures Global Rights for LYL273

On November 6, 2025, Lyell Immunopharma entered into an Exclusive License Agreement with Innovative Cellular Therapeutics Holdings Limited, granting Lyell global rights to develop and commercialize LYL273, a CAR T-cell product for metastatic colorectal cancer, excluding certain Asian territories. The agreement includes significant financial commitments and potential milestone payments. The acquisition of LYL273, which has shown promising results in early clinical trials, is expected to enhance Lyell’s solid tumor pipeline and potentially transform the treatment landscape for colorectal cancer. The transaction is anticipated to have a modest impact on Lyell’s 2025 operating expenses, with the company’s cash reserves projected to support operations into 2027.

The most recent analyst rating on (LYEL) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Lyell Immunopharma stock, see the LYEL Stock Forecast page.