Equillium (NASDAQ:EQ) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Equillium (NASDAQ:EQ) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $10.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Equillium in a report on Friday, March 27th. Roth Mkm began coverage on Equillium in a report on Friday, March 13th. They issued a “buy” rating and a $12.00 target price for the company. Zacks Research raised Equillium to a “hold” rating in a report on Thursday, February 26th. Wall Street Zen raised Equillium from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Stifel Nicolaus began coverage on Equillium in a report on Wednesday, February 25th. They issued a “buy” rating and a $5.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.00.

Equillium Trading Down 4.5%

Shares of EQ opened at $1.92 on Tuesday. Equillium has a 1 year low of $0.27 and a 1 year high of $2.70. The stock has a 50 day simple moving average of $1.82 and a 200-day simple moving average of $1.45. The stock has a market cap of $121.40 million, a PE ratio of -3.84 and a beta of 1.75.

Equillium (NASDAQ:EQ) last issued its earnings results on Wednesday, March 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. On average, sell-side analysts forecast that Equillium will post 0.14 EPS for the current fiscal year.

Insider Activity at Equillium

In other news, COO Christine Zedelmayer sold 120,312 shares of Equillium stock in a transaction on Friday, March 13th. The stock was sold at an average price of $2.50, for a total value of $300,780.00. Following the completion of the sale, the chief operating officer directly owned 62,586 shares of the company’s stock, valued at approximately $156,465. This trade represents a 65.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 494,001 shares of company stock valued at $998,895. 31.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equillium

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC acquired a new stake in shares of Equillium in the 4th quarter valued at $9,057,000. ADAR1 Capital Management LLC increased its stake 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 during the period. Woodline Partners LP acquired a new stake in shares of Equillium in the 3rd quarter valued at $5,018,000. Aberdeen Group plc increased its stake in shares of Equillium by 523.6% in the 4th quarter. Aberdeen Group plc now owns 2,366,688 shares of the company’s stock valued at $3,668,000 after buying an additional 1,987,162 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Equillium by 3.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,076,250 shares of the company’s stock valued at $3,218,000 after buying an additional 72,602 shares during the period. 27.05% of the stock is owned by institutional investors and hedge funds.

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.