Equillium, Inc. (NASDAQ:EQ) Short Interest Up 11.3% in October

Equillium, Inc. (NASDAQ:EQGet Rating) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 718,400 shares, a growth of 11.3% from the October 15th total of 645,400 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily volume of 217,700 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

EQ has been the subject of a number of recent analyst reports. SVB Leerink lowered their price objective on Equillium from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, September 8th. HC Wainwright raised their price objective on Equillium from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, September 27th.

Equillium Stock Performance

Shares of EQ stock opened at $1.72 on Tuesday. The firm has a market capitalization of $58.95 million, a price-to-earnings ratio of -0.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.98 and a quick ratio of 3.98. The business has a fifty day moving average of $1.98 and a 200 day moving average of $2.23. Equillium has a 1 year low of $1.56 and a 1 year high of $5.68.

Equillium (NASDAQ:EQGet Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). As a group, research analysts expect that Equillium will post -1.38 earnings per share for the current year.

Hedge Funds Weigh In On Equillium

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of Equillium during the 2nd quarter valued at about $34,000. Dimensional Fund Advisors LP acquired a new stake in shares of Equillium during the 3rd quarter valued at about $43,000. Jane Street Group LLC acquired a new stake in shares of Equillium during the 1st quarter valued at about $47,000. Virtu Financial LLC acquired a new stake in shares of Equillium during the 3rd quarter valued at about $54,000. Finally, State Street Corp grew its position in shares of Equillium by 13.2% during the 1st quarter. State Street Corp now owns 56,220 shares of the company’s stock valued at $177,000 after acquiring an additional 6,564 shares during the period. Hedge funds and other institutional investors own 36.86% of the company’s stock.

About Equillium

(Get Rating)

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.

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