Equillium (NASDAQ:EQ) Insider Sells $91,066.50 in Stock

Equillium, Inc. (NASDAQ:EQ) insider Stephen Connelly sold 30,975 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $2.94, for a total value of $91,066.50. Following the sale, the insider directly owned 762,025 shares of the company’s stock, valued at $2,240,353.50. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Stephen Connelly also recently made the following trade(s):

• On Thursday, June 4th, Stephen Connelly sold 200,000 shares of Equillium stock. The shares were sold at an average price of $3.16, for a total value of $632,000.00.

Equillium Stock Down 7.3%

EQ stock traded down $0.23 during midday trading on Friday, reaching $2.94. 1,143,183 shares of the company’s stock traded hands, compared to its average volume of 595,254. The company has a 50-day simple moving average of $2.18 and a two-hundred day simple moving average of $1.70. Equillium, Inc. has a 1-year low of $0.27 and a 1-year high of $3.45. The company has a market cap of $185.89 million, a price-to-earnings ratio of -9.19 and a beta of 1.77.

Equillium (NASDAQ:EQ) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Equities research analysts forecast that Equillium, Inc. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Equillium

Several hedge funds and other institutional investors have recently made changes to their positions in EQ. Dimensional Fund Advisors LP acquired a new stake in shares of Equillium in the 1st quarter valued at $31,000. Virtu Financial LLC grew its stake in shares of Equillium by 133.4% during the third quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock worth $34,000 after purchasing an additional 13,591 shares during the period. Millennium Management LLC acquired a new stake in shares of Equillium during the third quarter worth $35,000. Persistent Asset Partners Ltd acquired a new stake in shares of Equillium during the third quarter worth $99,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Equillium during the first quarter worth $100,000. 27.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EQ. Zacks Research raised Equillium to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Equillium in a report on Friday, March 27th. Cantor Fitzgerald assumed coverage on Equillium in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $10.00 target price for the company. Oppenheimer assumed coverage on Equillium in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $7.00 target price for the company. Finally, Wall Street Zen cut Equillium from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Equillium currently has an average rating of “Moderate Buy” and a consensus target price of $7.57.

Equillium Company Profile

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.