Equillium, Inc. (NASDAQ:EQ) Short Interest Update

Equillium, Inc. (NASDAQ:EQ) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 283,200 shares, a decrease of 22.0% from the March 15th total of 363,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 776,700 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Equillium stock. DCF Advisers LLC grew its stake in shares of Equillium, Inc. (NASDAQ:EQ) by 91.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 62,947 shares of the company’s stock after purchasing an additional 29,985 shares during the period. DCF Advisers LLC owned about 0.18% of Equillium worth $47,000 as of its most recent filing with the SEC. 27.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EQ shares. Leerink Partnrs lowered Equillium from a “strong-buy” rating to a “hold” rating in a report on Friday, March 28th. Leerink Partners reaffirmed a “market perform” rating and set a $1.00 price objective (down previously from $3.00) on shares of Equillium in a research report on Friday, March 28th.

Equillium Price Performance

NASDAQ:EQ traded up $0.04 during trading hours on Friday, hitting $0.47. The company’s stock had a trading volume of 73,207 shares, compared to its average volume of 360,290. The stock has a fifty day simple moving average of $0.68 and a 200-day simple moving average of $0.75. Equillium has a twelve month low of $0.36 and a twelve month high of $1.89. The company has a market capitalization of $16.88 million, a P/E ratio of -3.37 and a beta of 1.87.

Equillium (NASDAQ:EQ) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. Equillium had a negative return on equity of 20.68% and a negative net margin of 10.05%. The company had revenue of $4.39 million for the quarter. On average, equities analysts predict that Equillium will post 0.14 EPS for the current fiscal year.

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.