Equillium FY2024 EPS Forecast Boosted by Leerink Partnrs

Equillium, Inc. (NASDAQ:EQ) – Equities researchers at Leerink Partnrs increased their FY2024 earnings estimates for Equillium in a note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($0.34) for the year, up from their prior estimate of ($0.61). The consensus estimate for Equillium’s current full-year earnings is ($0.12) per share. Leerink Partnrs also issued estimates for Equillium’s Q4 2024 earnings at ($0.27) EPS and FY2025 earnings at ($1.50) EPS.

Separately, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Equillium in a research report on Monday, August 19th.

Equillium Trading Down 4.0 %

Shares of NASDAQ EQ opened at $0.68 on Monday. The stock has a market cap of $24.13 million, a P/E ratio of -4.86 and a beta of 1.83. Equillium has a twelve month low of $0.48 and a twelve month high of $3.25. The stock has a 50 day moving average of $0.91 and a two-hundred day moving average of $0.96.

Insider Activity at Equillium

In other Equillium news, insider Penny Tom sold 38,806 shares of Equillium stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $0.85, for a total transaction of $32,985.10. Following the transaction, the insider now directly owns 10,051 shares of the company’s stock, valued at $8,543.35. The trade was a 79.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 77,324 shares of company stock worth $71,233. 30.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equillium

A hedge fund recently raised its stake in Equillium stock. Renaissance Technologies LLC increased its position in shares of Equillium, Inc. (NASDAQ:EQ) by 43.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 300,400 shares of the company’s stock after buying an additional 91,200 shares during the period. Renaissance Technologies LLC owned about 0.85% of Equillium worth $208,000 at the end of the most recent reporting period. 27.05% of the stock is currently owned by institutional investors.

About Equillium

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.