Equillium (NASDAQ:EQ) Receives Buy Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of Equillium (NASDAQ:EQ) in a research report released on Thursday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

Several other brokerages also recently weighed in on EQ. Wall Street Zen downgraded Equillium from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Oppenheimer assumed coverage on Equillium in a report on Thursday, April 23rd. They issued an “outperform” rating and a $7.00 price objective for the company. Zacks Research upgraded Equillium to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Equillium in a research note on Friday, March 27th. Finally, Cantor Fitzgerald started coverage on Equillium in a research note on Tuesday, April 7th. They set an “overweight” rating and a $10.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.57.

Equillium Stock Up 8.0%

Shares of Equillium stock opened at $2.84 on Thursday. The company has a market cap of $179.57 million, a PE ratio of -8.88 and a beta of 1.67. The business has a 50 day moving average of $2.09 and a 200 day moving average of $1.63. Equillium has a 52 week low of $0.27 and a 52 week high of $3.10.

Equillium (NASDAQ:EQ) last announced its earnings results on Wednesday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). On average, research analysts anticipate that Equillium will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Christine Zedelmayer sold 181,219 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $2.00, for a total value of $362,438.00. Following the transaction, the chief operating officer directly owned 62,586 shares of the company’s stock, valued at approximately $125,172. The trade was a 74.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.84% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new stake in Equillium in the 1st quarter worth approximately $31,000. Virtu Financial LLC increased its stake in Equillium by 133.4% in the 3rd quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock worth $34,000 after acquiring an additional 13,591 shares during the last quarter. Millennium Management LLC bought a new stake in Equillium in the 3rd quarter worth approximately $35,000. Persistent Asset Partners Ltd bought a new stake in Equillium in the 3rd quarter worth approximately $99,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Equillium in the 1st quarter worth approximately $100,000. 27.05% of the stock is owned by hedge funds and other institutional investors.

About Equillium

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.