HC Wainwright Comments on Equillium, Inc.’s FY2024 Earnings (NASDAQ:EQ)

Equillium, Inc. (NASDAQ:EQ) – Analysts at HC Wainwright raised their FY2024 earnings estimates for shares of Equillium in a report issued on Monday, August 19th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings per share of $0.62 for the year, up from their previous estimate of $0.55. HC Wainwright currently has a “Buy” rating and a $5.00 target price on the stock. The consensus estimate for Equillium’s current full-year earnings is ($0.12) per share.

Equillium Price Performance

NASDAQ:EQ opened at $0.82 on Tuesday. The stock has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $1.49. The firm has a market capitalization of $29.00 million, a price-to-earnings ratio of -2.29 and a beta of 1.82. Equillium has a 1-year low of $0.45 and a 1-year high of $3.25.

Institutional Trading of Equillium

Several institutional investors have recently made changes to their positions in EQ. Renaissance Technologies LLC increased its position in Equillium by 43.6% in the 2nd quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock worth $208,000 after purchasing an additional 91,200 shares during the last quarter. Acadian Asset Management LLC bought a new position in Equillium during the first quarter valued at approximately $249,000. Finally, Decheng Capital LLC acquired a new stake in Equillium in the fourth quarter valued at approximately $3,215,000. 27.05% of the stock is currently owned by institutional investors and hedge funds.

About Equillium

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.