Stephen Connelly Sells 30,975 Shares of Equillium (NASDAQ:EQ) Stock

Equillium, Inc. (NASDAQ:EQ) insider Stephen Connelly sold 30,975 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $2.94, for a total value of $91,066.50. Following the sale, the insider directly owned 762,025 shares in the company, valued at approximately $2,240,353.50. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Stephen Connelly also recently made the following trade(s):

• On Thursday, June 4th, Stephen Connelly sold 200,000 shares of Equillium stock. The stock was sold at an average price of $3.16, for a total value of $632,000.00.

Equillium Stock Performance

EQ opened at $2.94 on Friday. The firm has a market cap of $185.90 million, a P/E ratio of -9.19 and a beta of 1.77. Equillium, Inc. has a 52-week low of $0.27 and a 52-week high of $3.45. The business’s fifty day moving average is $2.20 and its 200-day moving average is $1.71.

Equillium (NASDAQ:EQ) last released its earnings results on Wednesday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). On average, research analysts predict that Equillium, Inc. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EQ has been the topic of several analyst reports. Stifel Nicolaus set a $5.00 target price on Equillium in a report on Thursday, May 28th. Zacks Research upgraded Equillium to a “hold” rating in a research report on Thursday, February 26th. Roth Mkm restated a “buy” rating and set a $12.00 price objective on shares of Equillium in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Equillium in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded Equillium from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.57.

Hedge Funds Weigh In On Equillium

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC raised its position in Equillium by 133.4% in the third quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock valued at $34,000 after purchasing an additional 13,591 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Equillium in the first quarter valued at about $31,000. State Street Corp raised its position in Equillium by 13.0% in the fourth quarter. State Street Corp now owns 155,420 shares of the company’s stock valued at $241,000 after purchasing an additional 17,900 shares during the last quarter. Persistent Asset Partners Ltd raised its position in Equillium by 35.0% in the fourth quarter. Persistent Asset Partners Ltd now owns 93,123 shares of the company’s stock valued at $144,000 after purchasing an additional 24,132 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Equillium in the third quarter valued at about $35,000. 27.05% of the stock is currently owned by institutional investors.

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.