Equillium (NASDAQ:EQ) Shares Up 2.6% – Still a Buy?

Equillium, Inc. (NASDAQ:EQ)’s stock price shot up 2.6% during trading on Monday . The company traded as high as $0.8799 and last traded at $0.8744. 51,309 shares were traded during mid-day trading, a decline of 88% from the average session volume of 414,716 shares. The stock had previously closed at $0.8524.

Analyst Ratings Changes

A number of research firms have weighed in on EQ. Wall Street Zen upgraded Equillium from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Equillium in a research note on Monday, December 1st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $1.00.

Equillium Price Performance

The company’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $0.97. The firm has a market capitalization of $53.24 million, a PE ratio of -1.41 and a beta of 1.93.

Equillium (NASDAQ:EQ) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. As a group, equities research analysts anticipate that Equillium, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Equillium

Large investors have recently bought and sold shares of the stock. ADAR1 Capital Management LLC purchased a new stake in shares of Equillium during the third quarter valued at $7,951,000. Woodline Partners LP acquired a new stake in Equillium during the 3rd quarter worth about $5,018,000. Vanguard Group Inc. lifted its position in Equillium by 59.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,313,946 shares of the company’s stock worth $1,879,000 after acquiring an additional 489,855 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in Equillium during the 3rd quarter valued at about $608,000. Finally, Aberdeen Group plc acquired a new position in shares of Equillium in the third quarter valued at about $543,000. Hedge funds and other institutional investors own 27.05% of the company’s stock.

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.