Equillium (NASDAQ:EQ) Shares Up 3.9% – Should You Buy?

Equillium, Inc. (NASDAQ:EQ) shares were up 3.9% during trading on Tuesday . The stock traded as high as $0.41 and last traded at $0.38. Approximately 566,308 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 467,527 shares. The stock had previously closed at $0.37.

Analyst Ratings Changes

Several equities analysts have commented on EQ shares. Leerink Partners reaffirmed a “market perform” rating and issued a $1.00 price objective (down previously from $3.00) on shares of Equillium in a research report on Friday, March 28th. Leerink Partnrs cut shares of Equillium from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 28th.

Equillium Trading Up 3.9%

The company has a market cap of $13.61 million, a price-to-earnings ratio of -0.98 and a beta of 1.86. The stock has a 50-day simple moving average of $0.36 and a 200 day simple moving average of $0.55.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Equillium stock. DCF Advisers LLC increased its stake in shares of Equillium, Inc. (NASDAQ:EQ) by 91.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,947 shares of the company’s stock after purchasing an additional 29,985 shares during the period. DCF Advisers LLC owned 0.18% of Equillium worth $47,000 as of its most recent filing with the Securities & Exchange Commission. 27.05% of the stock is owned by institutional investors and hedge funds.

Equillium Company Profile

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 first-in-class monoclonal antibody that targets the immune checkpoint receptor CD6, which is in Phase III clinical trials for the treatment of acute graft-versus-host disease; completed Phase I clinical trial for the treatment of ulcerative colitis; and Phase I clinical trial for the treatment of lupus nephritis.