Equillium (NASDAQ:EQ) Announces Quarterly Earnings Results

Equillium (NASDAQ:EQ) released its quarterly earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03, FiscalAI reports.

Equillium Price Performance

NASDAQ EQ opened at $2.06 on Friday. The firm has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $1.44. Equillium has a 12-month low of $0.27 and a 12-month high of $2.70. The company has a market capitalization of $125.43 million, a P/E ratio of -4.12 and a beta of 1.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EQ shares. Zacks Research raised Equillium to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Equillium in a report on Monday, December 29th. Stifel Nicolaus began coverage on Equillium in a research note on Wednesday, February 25th. They issued a “buy” rating and a $5.00 price target for the company. Roth Mkm began coverage on Equillium in a report on Friday, March 13th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Wall Street Zen upgraded Equillium from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Equillium presently has an average rating of “Hold” and a consensus price target of $6.00.

Insider Activity at Equillium

In other news, COO Christine Zedelmayer sold 185,937 shares of Equillium stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $1.76, for a total value of $327,249.12. Following the completion of the sale, the chief operating officer directly owned 191,444 shares in the company, valued at approximately $336,941.44. The trade was a 49.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 494,001 shares of company stock worth $998,895 over the last quarter. 31.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equillium

Large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new position in Equillium in the 4th quarter valued at $9,057,000. ADAR1 Capital Management LLC lifted its position in shares of Equillium by 0.9% during the 4th quarter. ADAR1 Capital Management LLC now owns 5,608,078 shares of the company’s stock valued at $8,693,000 after acquiring an additional 48,090 shares during the period. Woodline Partners LP acquired a new stake in shares of Equillium during the 3rd quarter worth $5,018,000. Balyasny Asset Management L.P. grew its holdings in shares of Equillium by 3.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,076,250 shares of the company’s stock worth $3,218,000 after purchasing an additional 72,602 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Equillium by 59.4% in the third quarter. Vanguard Group Inc. now owns 1,313,946 shares of the company’s stock worth $1,879,000 after purchasing an additional 489,855 shares during the period. Institutional investors and hedge funds own 27.05% of the company’s stock.

About Equillium

Equillium, Inc (NASDAQ: EQ) is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies to treat severe autoimmune diseases and prevent organ transplant rejection. The company’s lead therapeutic candidate, EQ001 (itolizumab), is a humanized monoclonal antibody that modulates T-cell activation by targeting the CD6 receptor. Equillium’s pipeline also includes additional biologic candidates aimed at addressing indications such as acute graft-versus-host disease (GVHD) and lupus nephritis.

Founded in 2015 and headquartered in La Jolla, California, Equillium in-licensed itolizumab from Biocon Limited, leveraging the antibody’s established safety profile in earlier clinical studies.