Equillium (NASDAQ:EQ) Announces Earnings Results

Equillium (NASDAQ:EQ - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01, FiscalAI reports.

Equillium Stock Performance

• 3 Ways to Play the Data Center Land Grab

Shares of EQ stock traded down $0.17 during mid-day trading on Thursday, reaching $2.01. 542,877 shares of the company's stock traded hands, compared to its average volume of 503,391. The company's 50-day moving average price is $2.69 and its 200-day moving average price is $2.22. Equillium has a 12 month low of $0.76 and a 12 month high of $3.54.

Insider Buying and Selling

In related news, COO Christine Zedelmayer sold 86,012 shares of Equillium stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $2.80, for a total transaction of $240,833.60. Following the completion of the transaction, the chief operating officer directly owned 62,586 shares of the company's stock, valued at $175,240.80. This trade represents a 57.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Penny Tom sold 65,000 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $2.95, for a total transaction of $191,750.00. Following the sale, the insider directly owned 65,000 shares in the company, valued at $191,750. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 406,392 shares of company stock worth $1,224,898 in the last three months. 17.84% of the stock is owned by corporate insiders.

Institutional Trading of Equillium

• 3 REITs to Watch as AI Data Center Spending Surpasses Office Construction

A number of hedge funds have recently made changes to their positions in EQ. Virtu Financial LLC raised its stake in Equillium by 133.4% during the third quarter. Virtu Financial LLC now owns 23,779 shares of the company's stock valued at $34,000 after buying an additional 13,591 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Equillium in the third quarter worth $35,000. Royal Bank of Canada purchased a new stake in shares of Equillium in the fourth quarter worth $124,000. Persistent Asset Partners Ltd increased its holdings in shares of Equillium by 35.0% during the fourth quarter. Persistent Asset Partners Ltd now owns 93,123 shares of the company's stock valued at $144,000 after acquiring an additional 24,132 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Equillium during the third quarter valued at $174,000. 27.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EQ has been the subject of a number of research analyst reports. Stifel Nicolaus set a $5.00 price target on Equillium in a research note on Thursday, May 28th. Clear Str upgraded shares of Equillium to a "strong-buy" rating in a report on Tuesday, July 21st. Piper Sandler initiated coverage on shares of Equillium in a research note on Monday, July 13th. They set an "overweight" rating on the stock. Leerink Partners upgraded shares of Equillium from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $1.00 to $6.00 in a research report on Thursday, May 28th. Finally, B. Riley Financial started coverage on shares of Equillium in a research note on Thursday, April 16th. They issued a "buy" rating and a $6.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Equillium currently has an average rating of "Moderate Buy" and a consensus price target of $7.57.

• 3 Smart Investments If Interest Rates Stay Higher for Longer

Check Out Our Latest Report on Equillium

Equillium Company Profile

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Equillium
• Asian Market Circuit Breakers Hit Stocks, Not AI Demand
• Riot Platforms Re-Wires the Ledger for a $9B AI Power Play
• Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?
• Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Equillium Right Now?

Before you consider Equillium, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Equillium wasn't on the list.

While Equillium currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here