Equillium (NASDAQ:EQ) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Equillium (NASDAQ:EQ – Free Report) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently commented on EQ. Piper Sandler assumed coverage on Equillium in a research note on Monday, July 13th. They issued an “overweight” rating for the company. Clear Str raised shares of Equillium to a “strong-buy” rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Equillium in a research report on Wednesday, June 24th. Raymond James Financial restated a “strong-buy” rating and set a $7.00 price objective on shares of Equillium in a report on Thursday, May 28th. Finally, Stifel Nicolaus set a $5.00 price objective on shares of Equillium in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Equillium has an average rating of “Moderate Buy” and a consensus target price of $7.57.

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Equillium Trading Up 1.6%

Shares of Equillium stock opened at $1.92 on Friday. The stock has a market capitalization of $121.75 million, a price-to-earnings ratio of -9.60 and a beta of 1.81. Equillium has a 1-year low of $0.76 and a 1-year high of $3.54. The firm’s 50-day moving average price is $2.32 and its two-hundred day moving average price is $2.34.

Equillium (NASDAQ:EQ – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. As a group, equities research analysts predict that Equillium will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC bought a new position in Equillium during the second quarter worth about $35,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Equillium in the second quarter valued at approximately $48,000. Dimensional Fund Advisors LP bought a new position in shares of Equillium during the 1st quarter worth approximately $31,000. High Net Worth Advisory Group LLC acquired a new position in shares of Equillium during the 2nd quarter worth approximately $107,000. Finally, Jefferies Financial Group Inc. bought a new stake in Equillium in the 2nd quarter valued at $109,000. Institutional investors own 27.05% of the company’s stock.

About Equillium

(Get Free Report)

Equillium, Inc is a clinical-stage biotechnology company focused on developing therapies for severe autoimmune and inflammatory diseases. The company’s research is based on modulating immune pathways involved in T-cell activation, inflammation and tissue damage.

Its lead investigational product is itolizumab, an anti-CD6 monoclonal antibody designed to regulate pathogenic T-cell activity. Equillium has evaluated itolizumab in immune-mediated conditions, including acute graft-versus-host disease and other inflammatory disorders.

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