Equillium, Inc. (NASDAQ:EQ) Sees Large Decrease in Short Interest

Equillium, Inc. (NASDAQ:EQ) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 939,300 shares, a decrease of 26.6% from the March 31st total of 1,280,000 shares. Approximately 7.7% of the shares of the stock are short sold. Based on an average daily volume of 410,300 shares, the days-to-cover ratio is presently 2.3 days.

Equillium stock traded down $0.38 during midday trading on Tuesday, hitting $6.00. 184,887 shares of the stock were exchanged, compared to its average volume of 398,468. The company has a fifty day simple moving average of $6.93 and a two-hundred day simple moving average of $6.20. Equillium has a 52 week low of $2.43 and a 52 week high of $27.05. The stock has a market capitalization of $174.24 million, a PE ratio of -3.87 and a beta of 1.71. The company has a quick ratio of 17.91, a current ratio of 17.91 and a debt-to-equity ratio of 0.12.

Equillium (NASDAQ:EQ) last released its quarterly earnings data on Tuesday, March 23rd. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.02. As a group, equities research analysts anticipate that Equillium will post -1.51 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in Equillium by 28.1% in the first quarter. Victory Capital Management Inc. now owns 2,868,858 shares of the company’s stock valued at $20,512,000 after buying an additional 629,123 shares in the last quarter. BlackRock Inc. lifted its position in shares of Equillium by 221.1% in the fourth quarter. BlackRock Inc. now owns 69,153 shares of the company’s stock worth $370,000 after purchasing an additional 47,618 shares in the last quarter. Vigilare Wealth Management bought a new stake in shares of Equillium in the fourth quarter worth $142,000. Northern Trust Corp lifted its position in shares of Equillium by 82.2% in the fourth quarter. Northern Trust Corp now owns 23,827 shares of the company’s stock worth $127,000 after purchasing an additional 10,748 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Equillium in the fourth quarter worth $114,000. 31.14% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on EQ shares. Zacks Investment Research lowered shares of Equillium from a “buy” rating to a “hold” rating in a report on Thursday, February 11th. SVB Leerink restated a “buy” rating on shares of Equillium in a research report on Thursday, April 1st. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Equillium in a research report on Tuesday, February 9th. Finally, Jonestrading initiated coverage on shares of Equillium in a research report on Tuesday, March 9th. They issued a “buy” rating and a $14.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $12.35.

Equillium Company Profile

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. 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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