Lyell Immunopharma, Inc. (LYEL) AI Stock Analysis
LYEL AI stock analysis summary
AI ResearchLyell Immunopharma, Inc. (LYEL) is a clinical-stage biotechnology company focused on developing T cell reprogramming therapies for solid tumors. In the trailing twelve months, the company generated $27,000 in revenue with net EPS of -$12.86 while burning -$150.8M in free cash flow during FY2025. However, Lyell maintains a solid liquidity buffer with $204.1M in cash and short-term investments against $36.9M in total debt as of June 30, 2026.
- Market cap
- $199.0M
- Revenue (TTM)
- $27,000
- P/E
- —
- 1Y return
- -52.2% S&P 500 16.8%
- Avg. target
- $37.88 366.4% vs last close
Bull case
- Lyell holds $204.1M in cash and short-term investments against $36.9M in total debt as of June 30, 2026, creating a net cash buffer of $167.2M.
- The consensus analyst mean price target of $37.88 reflects a 366.4% premium over the last close of $8.12.
- Insiders demonstrate significant alignment with shareholders by owning 37.3% of outstanding shares.
Bear case
- Lyell generated minimal trailing twelve-month revenue of $27,000 alongside an operating margin of -1183425.0%.
- The company consumed -$150.8M in free cash flow during FY2025 while incurring an annual net loss of -$274.4M.
- Lyell's stock price dropped 52.2% over the trailing 1-year period and 73.6% year-to-date through October 16, 2026.
What Lyell Immunopharma does
Lyell Immunopharma, Inc. is a clinical-stage biotechnology company developing T cell reprogramming therapies for patients combating solid tumors. The company utilizes proprietary technology platforms including Gen-R, designed for ex vivo genetic reprogramming to overcome T cell exhaustion, and Epi-R, which promotes durable stemness in T cell populations. Lyell's pipeline features LYL797, a T cell therapy targeting non-small cell lung cancer and triple negative breast cancers, and LYL845, which targets multiple solid tumors. The company also collaborates with GlaxoSmithKline to advance the NY-ESO-1 program for synovial sarcoma and other solid tumor indications.
Growth and profitability
Lyell's annual revenue declined from $84.7M in FY2022 to $130,000 in FY2023, $61,000 in FY2024, and $36,000 in FY2025, reflecting a 5-year revenue CAGR of -65.9% from FY2020 to FY2025. Annual net losses remained substantial, recording -$343.0M in FY2024 and -$274.4M in FY2025 alongside FY2025 R&D expense of $158.7M. In the trailing twelve months ended June 30, 2026, Lyell generated $27,000 in revenue with an operating margin of -1183425.0% and diluted EPS of -$12.86. For the latest quarter ended June 30, 2026, quarterly revenue fell 50.0% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, Lyell held $204.1M in cash and short-term investments against $36.9M in total debt, yielding a net cash position of $167.2M. Shareholders' equity stood at $233.8M with a current ratio of 5.36 and a debt-to-equity ratio of 0.16. In FY2025, operating cash flow was -$150.0M and capital expenditures were $780,000, resulting in free cash flow of -$150.8M. Over the past five years, the company's share count expanded by 92.5%.
Valuation and performance
Lyell carries a market capitalization of $199.0M and an enterprise value of $91.6M. The stock trades at a price-to-book multiple of 1.1x and an EV/EBITDA multiple of 0.3x, compared to the median of 12.0x EV/EBITDA and 4.1x price-to-sales across its US-listed Healthcare peer group. Lyell's shares closed at $8.12 on October 16, 2026, down 52.2% over the trailing 12 months and 73.6% year-to-date, trailing the S&P 500 benchmark gain of 16.8% over the past year.
What analysts expect
Wall Street sentiment includes 5 Strong Buy, 2 Buy, 0 Hold, and 1 Sell recommendations. The mean price target of $37.88 represents upside of 366.4% from the last close of $8.12. For the fiscal year ending December 31, 2026, consensus projects revenue of $11,880 and EPS of -$6.92. For the following fiscal year, 1 analyst projects revenue of $9,880 and EPS of -$6.32. The company beat EPS estimates in 3 of the last 4 quarters, with next earnings scheduled for November 11, 2026.
Key risks and what to watch
- Substantial ongoing cash burn of -$150.0M in operating cash flow during FY2025 threatens to erode the company's $204.1M in cash reserves.
- Shareholder value faces dilution pressure, as seen in the 92.5% increase in share count over the last 5 years.
- Commercial revenues remain negligible, with quarterly revenue falling 50.0% year-over-year in the quarter ended June 30, 2026.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this LYEL AI stock analysis
This page is an AI-written research summary of Lyell Immunopharma, Inc. (LYEL). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: LYEL income statement, LYEL balance sheet, LYEL key metrics, LYEL analyst forecast, LYEL chart. See the LYEL stock overview for the latest quote and news.
LYEL AI stock analysis FAQ
What does Lyell Immunopharma do?
Lyell Immunopharma, Inc. develops reprogrammed T cell therapies to fight solid tumors using proprietary platforms such as Gen-R and Epi-R. Its key pipeline assets include LYL797 for lung and breast cancers, LYL845 for multiple solid tumors, and a partnered NY-ESO-1 program with GlaxoSmithKline.
What is Lyell's financial and cash position?
As of June 30, 2026, Lyell held $204.1M in cash and short-term investments and $36.9M in total debt, representing net cash of $167.2M. In FY2025, the company posted free cash flow of -$150.8M and a net loss of -$274.4M.
Does Lyell Immunopharma pay a dividend?
Lyell Immunopharma does not pay a dividend, as it directs capital toward its ongoing research and clinical development pipeline.
What are Wall Street analysts projecting for LYEL stock?
Wall Street analysts maintain 5 Strong Buy, 2 Buy, and 1 Sell ratings, with a mean price target of $37.88 compared to its last close of $8.12. For FY2026, consensus projects revenue of $11,880 and an EPS of -$6.92.