Equillium (NASDAQ:EQ) Trading 1.1% Higher

Equillium, Inc. (NASDAQ:EQ) shares traded up 1.1% during trading on Thursday . The company traded as high as $1.85 and last traded at $1.81. 130,386 shares were traded during mid-day trading, a decline of 59% from the average session volume of 315,095 shares. The stock had previously closed at $1.79.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their target price on shares of Equillium from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd.

Equillium Stock Up 1.1 %

The stock has a market capitalization of $63.82 million, a P/E ratio of -4.64 and a beta of 1.62. The company has a fifty day simple moving average of $2.30 and a two-hundred day simple moving average of $1.28.

Equillium (NASDAQ:EQ) last posted its earnings results on Monday, March 25th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.10. The business had revenue of $9.21 million during the quarter, compared to analysts’ expectations of $8.85 million. Equillium had a negative return on equity of 51.82% and a negative net margin of 36.96%. As a group, equities analysts forecast that Equillium, Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Equillium

An institutional investor recently bought a new position in Equillium stock. Decheng Capital LLC acquired a new position in shares of Equillium, Inc. (NASDAQ:EQ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,447,308 shares of the company’s stock, valued at approximately $3,215,000. Equillium comprises 0.9% of Decheng Capital LLC’s holdings, making the stock its 18th largest position. Decheng Capital LLC owned about 12.66% of Equillium at the end of the most recent quarter. 27.05% of the stock is owned by hedge funds and other institutional investors.

About Equillium

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. The company's lead product candidate is itolizumab (EQ001), a first-in-class monoclonal antibody that targets the immune checkpoint receptor CD6, which is in Phase III clinical trials for the treatment of acute graft-versus-host disease; completed Phase I clinical trial for the treatment of ulcerative colitis; and Phase I clinical trial for the treatment of lupus nephritis.