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

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

Equillium Price Performance

Shares of NASDAQ EQ traded up $0.04 during midday trading on Wednesday, reaching $2.31. The company’s stock had a trading volume of 322,431 shares, compared to its average volume of 466,737. Equillium has a 12-month low of $0.27 and a 12-month high of $2.70. The firm has a 50 day moving average price of $2.02 and a 200-day moving average price of $1.55. The stock has a market capitalization of $146.06 million, a P/E ratio of -4.62 and a beta of 1.67.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EQ shares. B. Riley Financial started coverage on Equillium in a report on Thursday, April 16th. They set a “buy” rating and a $6.00 price objective for the company. Cantor Fitzgerald started coverage on Equillium in a report on Tuesday, April 7th. They set an “overweight” rating and a $10.00 price objective for the company. Raymond James Financial started coverage on Equillium in a report on Monday, April 13th. They set a “strong-buy” rating and a $6.00 price objective for the company. Oppenheimer started coverage on Equillium in a report on Thursday, April 23rd. They set an “outperform” rating and a $7.00 price objective for the company. Finally, Roth Mkm reissued a “buy” rating and set a $12.00 price objective on shares of Equillium in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Equillium presently has an average rating of “Moderate Buy” and an average target price of $7.67.

Insider Buying and Selling at Equillium

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

Hedge Funds Weigh In On Equillium

Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC boosted its stake in shares of Equillium by 133.4% in 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 during the last quarter. Millennium Management LLC purchased a new position in shares of Equillium in the 3rd quarter worth approximately $35,000. Royal Bank of Canada purchased a new position in shares of Equillium in the 4th quarter worth approximately $124,000. Persistent Asset Partners Ltd boosted its stake in shares of Equillium by 35.0% in 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 during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in shares of Equillium in the 3rd quarter worth approximately $174,000. Hedge funds and other institutional investors own 27.05% of the company’s stock.

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.