Equillium (NASDAQ:EQ) Stock Price Up 1.1%

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their price objective on Equillium from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd.

Equillium Stock Down 5.5 %

The business has a 50 day simple moving average of $2.28 and a 200-day simple moving average of $1.28.

Equillium (NASDAQ:EQ) last issued its quarterly earnings data 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 firm had revenue of $9.21 million during the quarter, compared to the consensus estimate of $8.85 million. Equillium had a negative return on equity of 51.82% and a negative net margin of 36.96%. Sell-side analysts anticipate that Equillium, Inc. will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equillium

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

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. 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.