Equillium (NASDAQ:EQ) Stock Price Down 2%

Posted by on Sep 20th, 2023

Equillium, Inc. (NASDAQ:EQ – Get Free Report)’s stock price fell 2% during mid-day trading on Tuesday . The stock traded as low as $0.78 and last traded at $0.80. 10,415 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 181,761 shares. The stock had previously closed at $0.82.

Analysts Set New Price Targets

EQ has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $5.50 price target on shares of Equillium in a research note on Monday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $2.80 price target on shares of Equillium in a research note on Monday, August 14th.

Read Our Latest Stock Analysis on Equillium

Equillium Price Performance

The firm has a market capitalization of $27.78 million, a P/E ratio of -1.52 and a beta of 1.22. The firm’s 50 day simple moving average is $0.81 and its two-hundred day simple moving average is $0.73.

Equillium (NASDAQ:EQ – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.09. The firm had revenue of $9.12 million for the quarter, compared to the consensus estimate of $8.60 million. As a group, equities research analysts forecast that Equillium, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Equillium

Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its stake in Equillium by 56.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 31,339 shares of the company’s stock worth $33,000 after buying an additional 11,339 shares in the last quarter. Renaissance Technologies LLC bought a new position in Equillium in the second quarter worth about $34,000. Dimensional Fund Advisors LP purchased a new stake in Equillium in the third quarter worth about $43,000. Jane Street Group LLC purchased a new stake in Equillium in the first quarter worth about $47,000. Finally, Callan Capital LLC purchased a new stake in Equillium in the fourth quarter worth about $110,000. 28.70% of the stock is owned by institutional investors.

About Equillium

(Get Free Report)

Equillium, Inc, a clinical-stage biotechnology company, develops and sells products to treat severe autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. The company's lead product candidate is itolizumab (EQ001), a clinical-stage monoclonal antibody that targets the novel immune checkpoint receptor CD6, which is in Phase III clinical trials for the treatment of acute graft-versus-host disease; completed Phase Ib clinical trial for the treatment of asthma disease; and Phase Ib clinical trial for the treatment of and lupus nephritis.

Further Reading

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