Equillium (NASDAQ:EQ) Posts Earnings Results, Beats Expectations By $0.03 EPS

Equillium (NASDAQ:EQ) issued its earnings results on Wednesday. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03, FiscalAI reports.

Equillium Price Performance

EQ opened at $2.06 on Friday. The business has a fifty day simple moving average of $1.70 and a 200 day simple moving average of $1.44. The company has a market capitalization of $125.44 million, a PE ratio of -4.12 and a beta of 1.81. Equillium has a 1 year low of $0.27 and a 1 year high of $2.70.

Insider Buying and Selling

In other Equillium news, COO Christine Zedelmayer sold 185,937 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $1.76, for a total transaction of $327,249.12. Following the transaction, the chief operating officer owned 191,444 shares in the company, valued at $336,941.44. This trade represents a 49.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 494,001 shares of company stock valued at $998,895. Corporate insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Equillium

A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC acquired a new stake in Equillium during the fourth quarter worth about $9,057,000. ADAR1 Capital Management LLC raised its position in shares of Equillium by 0.9% in the 4th quarter. ADAR1 Capital Management LLC now owns 5,608,078 shares of the company’s stock valued at $8,693,000 after buying an additional 48,090 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Equillium during the 3rd quarter worth approximately $5,018,000. Balyasny Asset Management L.P. lifted its holdings in shares of Equillium by 3.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,076,250 shares of the company’s stock worth $3,218,000 after acquiring an additional 72,602 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Equillium by 59.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,313,946 shares of the company’s stock worth $1,879,000 after acquiring an additional 489,855 shares in the last quarter. Institutional investors own 27.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Equillium to a “hold” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of Equillium from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Roth Mkm assumed coverage on shares of Equillium in a research report on Friday, March 13th. They issued a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Equillium in a research note on Monday, December 29th. Finally, Stifel Nicolaus started coverage on shares of Equillium in a report on Wednesday, February 25th. They set a “buy” rating and a $5.00 target price for the company. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Equillium presently has an average rating of “Hold” and an average target price of $6.00.

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.