Equillium (NASDAQ:EQ) Announces Earnings Results

Equillium (NASDAQ:EQ) issued its earnings results on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08, FiscalAI reports.

Equillium Stock Performance

Shares of NASDAQ EQ traded down $0.08 during trading on Thursday, hitting $0.84. The company had a trading volume of 388,994 shares, compared to its average volume of 2,831,912. The stock has a 50 day simple moving average of $1.45 and a 200 day simple moving average of $0.90. Equillium has a 12 month low of $0.27 and a 12 month high of $2.35. The firm has a market capitalization of $49.98 million, a P/E ratio of -1.50 and a beta of 1.57.

Hedge Funds Weigh In On Equillium

An institutional investor recently raised its position in Equillium stock. Vanguard Group Inc. increased its position in shares of Equillium, Inc. (NASDAQ:EQ) by 59.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,313,946 shares of the company’s stock after purchasing an additional 489,855 shares during the period. Vanguard Group Inc. owned 2.21% of Equillium worth $1,879,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 27.05% of the company’s stock.

Wall Street Analyst Weigh In

EQ has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Equillium in a report on Wednesday, October 8th. Wall Street Zen raised Equillium to a “sell” rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Equillium presently has an average rating of “Reduce” and a consensus price target of $1.00.

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.