Equillium (NASDAQ:EQ) Releases Earnings Results, Misses Expectations By $0.02 EPS

Equillium (NASDAQ:EQ) released its earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02), FiscalAI reports.

Equillium Stock Performance

Shares of Equillium stock traded down $0.34 during trading on Friday, reaching $2.25. 354,647 shares of the company’s stock were exchanged, compared to its average volume of 466,035. Equillium has a 1-year low of $0.27 and a 1-year high of $2.70. The company has a market cap of $142.01 million, a P/E ratio of -7.03 and a beta of 1.67. The firm’s 50-day moving average price is $2.05 and its 200 day moving average price is $1.57.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQ. Zacks Research upgraded Equillium to a “hold” rating in a research report on Thursday, February 26th. Raymond James Financial began coverage on Equillium in a research report on Monday, April 13th. They set a “strong-buy” rating and a $6.00 target price for the company. B. Riley Financial began coverage on Equillium in a research report on Thursday, April 16th. They set a “buy” rating and a $6.00 target price for the company. Roth Mkm reiterated a “buy” rating and set a $12.00 target price on shares of Equillium in a research report on Friday, April 17th. Finally, Stifel Nicolaus began coverage on Equillium in a research report on Wednesday, February 25th. They set a “buy” rating and a $5.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Equillium currently has an average rating of “Moderate Buy” and an average target price of $7.67.

Insider Activity at Equillium

In other news, COO Christine Zedelmayer sold 185,937 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $1.76, for a total transaction of $327,249.12. Following the completion of the transaction, the chief operating officer owned 191,444 shares of the company’s stock, valued at approximately $336,941.44. The trade was a 49.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 487,468 shares of company stock worth $990,467. 17.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equillium

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC raised its holdings in shares of Equillium by 133.4% during the 3rd quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock worth $34,000 after buying an additional 13,591 shares in the last quarter. State Street Corp raised its holdings in shares of Equillium by 13.0% during the 4th quarter. State Street Corp now owns 155,420 shares of the company’s stock worth $241,000 after buying an additional 17,900 shares in the last quarter. Persistent Asset Partners Ltd raised its holdings in shares of Equillium by 35.0% during the 4th quarter. Persistent Asset Partners Ltd now owns 93,123 shares of the company’s stock worth $144,000 after buying an additional 24,132 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Equillium during the 3rd quarter worth $35,000. Finally, Geode Capital Management LLC raised its holdings in shares of Equillium by 11.1% during the 4th quarter. Geode Capital Management LLC now owns 345,310 shares of the company’s stock worth $535,000 after buying an additional 34,491 shares in the last quarter. 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.