1,498,993 Shares in Equillium, Inc. $EQ Purchased by Eversept Partners LP

Eversept Partners LP acquired a new stake in Equillium, Inc. (NASDAQ:EQ) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,498,993 shares of the company’s stock, valued at approximately $2,998,000. Eversept Partners LP owned about 2.37% of Equillium as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in shares of Equillium in the 1st quarter worth approximately $31,000. Virtu Financial LLC raised its position in shares of Equillium by 133.4% during the 3rd quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock valued at $34,000 after acquiring an additional 13,591 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Equillium during the 3rd quarter valued at approximately $35,000. OMERS ADMINISTRATION Corp bought a new position in Equillium during the first quarter worth $100,000. Finally, Royal Bank of Canada bought a new position in Equillium during the fourth quarter worth $124,000. Institutional investors and hedge funds own 27.05% of the company’s stock.

Insider Transactions at Equillium

In related news, COO Christine Zedelmayer sold 86,012 shares of Equillium stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $2.80, for a total value of $240,833.60. Following the sale, the chief operating officer directly owned 62,586 shares in the company, valued at $175,240.80. This trade represents a 57.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Penny Tom sold 65,000 shares of Equillium stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $2.95, for a total transaction of $191,750.00. Following the completion of the sale, the insider owned 65,000 shares in the company, valued at approximately $191,750. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 406,392 shares of company stock worth $1,224,898. Insiders own 17.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Leerink Partners upgraded shares of Equillium from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1.00 to $6.00 in a research note on Thursday, May 28th. Cantor Fitzgerald began coverage on shares of Equillium in a research report on Tuesday, April 7th. They issued an “overweight” rating and a $10.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $7.00 price target on shares of Equillium in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Equillium from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Piper Sandler started coverage on shares of Equillium in a research report on Monday, July 13th. They set an “overweight” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Equillium Price Performance

NASDAQ:EQ opened at $2.46 on Tuesday. Equillium, Inc. has a 12-month low of $0.37 and a 12-month high of $3.54. The firm has a market capitalization of $155.54 million, a P/E ratio of -7.69 and a beta of 1.77. The business has a 50 day simple moving average of $2.76 and a 200 day simple moving average of $2.13.

Equillium (NASDAQ:EQ) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Research analysts anticipate that Equillium, Inc. will post -0.24 EPS for the current fiscal year.

About Equillium

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.