Equillium (NASDAQ:EQ) Stock Rating Lowered by Wall Street Zen

Equillium (NASDAQ:EQ) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus set a $5.00 price objective on shares of Equillium in a research report on Thursday, May 28th. Leerink Partners upgraded Equillium from a “market perform” rating to an “outperform” rating and raised their target price for the company from $1.00 to $6.00 in a research report on Thursday, May 28th. Piper Sandler assumed coverage on Equillium in a research note on Monday, July 13th. They issued an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Equillium in a report on Wednesday, June 24th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $12.00 price target on shares of Equillium in a report on Friday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Equillium presently has an average rating of “Moderate Buy” and an average price target of $7.57.

Equillium Price Performance

Shares of NASDAQ EQ opened at $1.92 on Friday. The stock has a market capitalization of $121.74 million, a price-to-earnings ratio of -9.60 and a beta of 1.81. The firm’s 50 day simple moving average is $2.32 and its 200-day simple moving average is $2.35. Equillium has a 12 month low of $0.76 and a 12 month high of $3.54.

Equillium (NASDAQ:EQ) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Analysts anticipate that Equillium will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equillium

A number of large investors have recently added to or reduced their stakes in EQ. Two Sigma Securities LLC acquired a new stake in shares of Equillium in the second quarter valued at about $35,000. Coastal Bridge Advisors LLC acquired a new position in shares of Equillium during the 2nd quarter worth about $48,000. Dimensional Fund Advisors LP purchased a new position in Equillium in the 1st quarter valued at about $31,000. High Net Worth Advisory Group LLC purchased a new position in Equillium in the 2nd quarter valued at about $107,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Equillium in the 2nd quarter worth about $109,000. 27.05% of the stock is currently 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.