Equillium (NASDAQ:EQ) Insider Sells $91,066.50 in Stock

Equillium, Inc. (NASDAQ:EQ) insider Stephen Connelly sold 30,975 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $2.94, for a total value of $91,066.50. Following the sale, the insider owned 762,025 shares of the company’s stock, valued at approximately $2,240,353.50. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stephen Connelly also recently made the following trade(s):

• On Thursday, June 4th, Stephen Connelly sold 200,000 shares of Equillium stock. The shares were sold at an average price of $3.16, for a total value of $632,000.00.

Equillium Trading Down 7.3%

NASDAQ:EQ traded down $0.23 during mid-day trading on Friday, hitting $2.94. 1,143,183 shares of the company’s stock traded hands, compared to its average volume of 595,254. The firm has a 50 day moving average of $2.18 and a two-hundred day moving average of $1.70. Equillium, Inc. has a 12 month low of $0.27 and a 12 month high of $3.45. The firm has a market capitalization of $185.89 million, a price-to-earnings ratio of -9.19 and a beta of 1.77.

Equillium (NASDAQ:EQ) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). As a group, equities research analysts expect that Equillium, Inc. will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQ. Zacks Research upgraded Equillium to a “hold” rating in a research report on Thursday, February 26th. Leerink Partners upgraded Equillium from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $1.00 to $6.00 in a research report on Thursday, May 28th. Roth Mkm reiterated a “buy” rating and issued a $12.00 price objective on shares of Equillium in a research report on Thursday, May 28th. Wall Street Zen downgraded Equillium from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial began coverage on Equillium in a research report on Thursday, April 16th. They issued a “buy” rating and a $6.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Equillium has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

Hedge Funds Weigh In On Equillium

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP bought a new position in shares of Equillium during the 1st quarter worth approximately $31,000. Virtu Financial LLC lifted its position in shares of Equillium by 133.4% during the 3rd quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock worth $34,000 after buying an additional 13,591 shares during the period. Millennium Management LLC bought a new position in shares of Equillium during the 3rd quarter worth approximately $35,000. Persistent Asset Partners Ltd bought a new position in shares of Equillium during the 3rd quarter worth approximately $99,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Equillium during the 1st quarter worth approximately $100,000. Institutional investors own 27.05% of the company’s stock.

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.