Lyell Immunopharma

LYEL · NASDAQ

$9.70+$0.90 (+10.23%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $8.80

LYEL analyst rating

BuyConsensus of 5 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy5
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $38.63 (+298.3% upside)

Low: $12.12
Now: $9.70
High: $51.45

Upgrades and downgrades

The latest rating actions, newest first

LYEL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Sep 11, 2026	Maintains	Buy	$44.00	38%
Stifel	Aug 6, 2026	Initiates	Buy	$36.00	46%
B. Riley Securities	Jul 22, 2026	Initiates	Buy	$44.00	37%
Citizens	Jun 15, 2026	Maintains	Market Outperform	$34.00	36%
Needham	Jun 15, 2026	Maintains	Buy	$44.00	38%
HC Wainwright & Co.	Jun 9, 2026	Maintains	Buy	$45.00	32%
Needham	Jun 8, 2026	Maintains	Buy	$44.00	38%
HC Wainwright & Co.	Jun 3, 2026	Maintains	Buy	$45.00	32%
Needham	May 7, 2026	Maintains	Buy	$44.00	38%
Needham	Apr 10, 2026	Initiates	Buy	$44.00	38%

The case for and against

Updated Oct 16, 2026

Bull case

Lyell Immunopharma is attractive because ronde-cel combines dual CD19/CD20 targeting with CD62L-enriched manufacturing, a design intended to reduce antigen escape, improve persistence, and support differentiation versus approved CAR-Ts that have generated roughly $3B+ in annual sales in LBCL. The company’s wholly owned LyFE center can produce more than 1,200 CAR-T doses annually with about 97% success rates and a vein-to-site median time of 16 days, while updated safety data showed meaningfully lower ≥2 diarrhea/colitis and ICANS, strengthening commercial readiness and regulatory optionality. Beyond hematologic disease, LYL273 adds a second value driver with early mCRC data showing 40% PR in 15 heavily pretreated patients and improved GI prophylaxis, supporting a compelling case for long-term pipeline optionality.

Bear case

Lyell Immunopharma is viewed negatively because its pipeline remains highly dependent on clinical execution, yet the bear case already assumes safety issues or regulatory delays that could cut the probability of success for ronde-cel in DLBCL to 15% and LYL273 to 5%. The company faces heavy competitive pressure in both LBCL and mCRC, while none of its drugs are FDA or EMA approved and CAR-T commercialization is challenged by reimbursement pressure, manufacturing constraints, and adverse-event risks such as CRS and ICANS. Financially, it is capital-intensive and likely will need additional funding to advance trials and commercialize, creating meaningful dilution risk if capital markets are unfavorable.

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