Equillium, Inc. (NASDAQ:EQ) Given Average Recommendation of “Hold” by Brokerages

Equillium, Inc. (NASDAQ:EQ) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.00.

Several brokerages have recently commented on EQ. Weiss Ratings reissued a “sell (d-)” rating on shares of Equillium in a report on Monday, December 29th. Roth Mkm began coverage on shares of Equillium in a research note on Friday. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Research upgraded shares of Equillium to a “hold” rating in a research report on Thursday, February 26th. Stifel Nicolaus initiated coverage on shares of Equillium in a research note on Wednesday, February 25th. They issued a “buy” rating and a $5.00 price target for the company. Finally, Wall Street Zen lowered shares of Equillium from a “hold” rating to a “sell” rating in a report on Saturday, February 28th.

Equillium Stock Up 18.4%

NASDAQ:EQ traded up $0.38 during trading hours on Friday, hitting $2.45. 962,816 shares of the company’s stock traded hands, compared to its average volume of 478,003. Equillium has a 52 week low of $0.27 and a 52 week high of $2.49. The business’s fifty day simple moving average is $1.52 and its two-hundred day simple moving average is $1.42. The firm has a market cap of $149.18 million, a P/E ratio of -3.97 and a beta of 1.81.

Insider Buying and Selling

In related news, COO Christine Zedelmayer sold 185,937 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $1.76, for a total value of $327,249.12. Following the transaction, the chief operating officer owned 191,444 shares of the company’s stock, valued at $336,941.44. This represents a 49.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 485,589 shares of company stock valued at $863,704 over the last quarter. 31.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equillium

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC increased its position in shares of Equillium by 133.4% during the 3rd 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. Millennium Management LLC bought a new stake in Equillium in the 3rd quarter worth approximately $35,000. Persistent Asset Partners Ltd bought a new stake in Equillium in the 3rd quarter worth approximately $99,000. Royal Bank of Canada purchased a new stake in Equillium in the fourth quarter worth approximately $124,000. Finally, Boothbay Fund Management LLC purchased a new stake in Equillium in the third quarter worth approximately $174,000. 27.05% of the stock is currently owned by hedge funds and other institutional investors.

Equillium Company Profile

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.