Equillium (NASDAQ:EQ – Get Free Report) was upgraded by stock analysts at Clear Str to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.
Several other brokerages have also weighed in on EQ. Roth Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Equillium in a report on Thursday, May 28th. B. Riley Financial initiated coverage on shares of Equillium in a research report on Thursday, April 16th. They set a “buy” rating and a $6.00 target price for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $7.00 target price on shares of Equillium in a research note on Thursday, May 28th. Stifel Nicolaus set a $5.00 price target on shares of Equillium in a research report on Thursday, May 28th. Finally, Oppenheimer assumed coverage on shares of Equillium in a research note on Thursday, April 23rd. They set an “outperform” rating and a $7.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Equillium currently has an average rating of “Moderate Buy” and an average target price of $7.57.
Read Our Latest Stock Report on Equillium
Equillium Trading Up 4.9%
Equillium (NASDAQ:EQ – Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). As a group, equities research analysts forecast that Equillium will post -0.24 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Equillium news, insider Stephen Connelly sold 200,000 shares of Equillium stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $3.16, for a total transaction of $632,000.00. Following the completion of the transaction, the insider owned 793,000 shares of the company’s stock, valued at $2,505,880. The trade was a 20.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Penny Tom sold 65,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $2.95, for a total value of $191,750.00. Following the sale, the insider owned 65,000 shares in the company, valued at approximately $191,750. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 406,392 shares of company stock worth $1,224,898 in the last quarter. 17.84% of the stock is owned by company insiders.
Institutional Trading of Equillium
Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC boosted its stake in Equillium by 133.4% during the third quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock valued at $34,000 after buying an additional 13,591 shares during the period. Dimensional Fund Advisors LP purchased a new position in Equillium during the first quarter worth about $31,000. State Street Corp increased its stake in Equillium by 13.0% in the 4th quarter. State Street Corp now owns 155,420 shares of the company’s stock worth $241,000 after acquiring an additional 17,900 shares during the last quarter. Persistent Asset Partners Ltd increased its stake in Equillium by 35.0% in the 4th quarter. Persistent Asset Partners Ltd now owns 93,123 shares of the company’s stock worth $144,000 after acquiring an additional 24,132 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Equillium in the 3rd quarter valued at about $35,000. 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.
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