Equillium (NASDAQ:EQ) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Equillium (NASDAQ:EQ) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

EQ has been the topic of a number of other research reports. Zacks Research raised Equillium from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Piper Sandler initiated coverage on Equillium in a report on Monday, July 13th. They issued an “overweight” rating for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $7.00 price target on shares of Equillium in a report on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Equillium in a research report on Wednesday, June 24th. Finally, Roth Capital restated a “buy” rating and set a $12.00 price objective on shares of Equillium in a research note on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

Equillium Stock Performance

EQ opened at $1.90 on Friday. The company has a 50-day moving average of $2.30 and a 200-day moving average of $2.35. The company has a market capitalization of $120.16 million, a P/E ratio of -9.47 and a beta of 1.81. Equillium has a 1-year low of $0.76 and a 1-year high of $3.54.

Equillium (NASDAQ:EQ) last issued its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. As a group, sell-side analysts expect that Equillium will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in shares of Equillium by 10.8% during the first quarter. Janus Henderson Group PLC now owns 6,494,571 shares of the company’s stock valued at $12,957,000 after buying an additional 632,359 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in Equillium in the 1st quarter worth approximately $2,453,000. Eversept Partners LP bought a new position in Equillium in the 1st quarter worth approximately $2,998,000. ADAR1 Capital Management LLC acquired a new stake in Equillium in the 2nd quarter valued at approximately $12,027,000. Finally, Jupiter Topco LLC acquired a new stake in Equillium in the 2nd quarter valued at approximately $20,685,000. 27.05% of the stock is owned by institutional investors and hedge funds.

Equillium Company Profile

Equillium, Inc is a clinical-stage biotechnology company focused on developing therapies for severe autoimmune and inflammatory diseases. The company’s research is based on modulating immune pathways involved in T-cell activation, inflammation and tissue damage.

Its lead investigational product is itolizumab, an anti-CD6 monoclonal antibody designed to regulate pathogenic T-cell activity. Equillium has evaluated itolizumab in immune-mediated conditions, including acute graft-versus-host disease and other inflammatory disorders.