Equillium (NASDAQ:EQ) Shares Down 2%

Equillium, Inc. (NASDAQ:EQ) fell 2% on Wednesday . The company traded as low as $0.67 and last traded at $0.67. 91,030 shares traded hands during trading, a decline of 74% from the average session volume of 355,583 shares. The stock had previously closed at $0.68.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Equillium in a research note on Wednesday, June 5th.

Equillium Stock Performance

The stock has a 50 day simple moving average of $1.27 and a two-hundred day simple moving average of $1.49.

Equillium (NASDAQ:EQ) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.09. The business had revenue of $10.69 million during the quarter, compared to analyst estimates of $9.15 million. Equillium had a negative return on equity of 51.20% and a negative net margin of 32.01%. As a group, equities research analysts expect that Equillium, Inc. will post -0.12 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 purchased a new stake in Equillium, Inc. (NASDAQ:EQ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,447,308 shares of the company’s stock, valued at approximately $3,215,000. Equillium makes up 0.9% of Decheng Capital LLC’s investment portfolio, making the stock its 18th largest holding. Decheng Capital LLC owned about 12.66% of Equillium as of its most recent filing with the SEC. 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.