Equillium, Inc. (NASDAQ:EQ) shares rose 5.3% during mid-day trading on Wednesday . The company traded as high as $5.63 and last traded at $5.56. Approximately 495,049 shares changed hands during trading, a decline of 1% from the average daily volume of 498,606 shares. The stock had previously closed at $5.28.
EQ has been the topic of a number of analyst reports. ValuEngine lowered shares of Equillium from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 2nd. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective (down previously from $22.00) on shares of Equillium in a research note on Monday, November 30th. Finally, Zacks Investment Research upgraded shares of Equillium from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $11.94.
The company has a market cap of $137.49 million, a PE ratio of -3.54 and a beta of 1.72. The business’s 50 day moving average price is $5.04 and its 200-day moving average price is $5.24. The company has a quick ratio of 17.91, a current ratio of 17.91 and a debt-to-equity ratio of 0.12.
In related news, CFO Jason A. Keyes sold 8,000 shares of Equillium stock in a transaction on Wednesday, December 23rd. The shares were sold at an average price of $4.74, for a total value of $37,920.00. Following the completion of the sale, the chief financial officer now owns 12,176 shares in the company, valued at $57,714.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Connelly sold 25,000 shares of the business’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $4.52, for a total transaction of $113,000.00. Following the sale, the insider now owns 993,000 shares of the company’s stock, valued at approximately $4,488,360. The disclosure for this sale can be found here. 52.30% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Equillium by 36.2% during the third quarter. Victory Capital Management Inc. now owns 2,354,309 shares of the company’s stock valued at $13,585,000 after purchasing an additional 625,788 shares during the last quarter. Samsara BioCapital LLC acquired a new position in shares of Equillium during the third quarter valued at $6,199,000. Bridgeway Capital Management Inc. acquired a new position in shares of Equillium during the second quarter valued at $221,000. Kestra Private Wealth Services LLC acquired a new position in shares of Equillium during the third quarter valued at $351,000. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Equillium during the third quarter valued at $331,000. Hedge funds and other institutional investors own 22.10% of the company’s stock.
Equillium Company Profile (NASDAQ:EQ)
Equillium, Inc, a clinical-stage biotechnology company, develops products for autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. Its primary product candidate is itolizumab, a clinical-stage monoclonal antibody that targets the novel immune checkpoint receptor CD6, which is in Phase 1b/2 clinical trials for the treatment of acute graft-versus-host disease; and Phase 1 clinical trial for the treatment of asthma and lupus nephritis.
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