Equillium (NASDAQ:EQ) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Equillium (NASDAQ:EQ) in a research report sent to investors on Monday morning, Benzinga reports. HC Wainwright currently has a $5.00 price target on the stock. HC Wainwright also issued estimates for Equillium’s Q3 2024 earnings at $0.86 EPS, Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at $0.62 EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.20) EPS and FY2025 earnings at ($0.78) EPS.

Equillium Trading Up 14.2 %

NASDAQ EQ opened at $0.94 on Monday. The company has a market cap of $33.13 million, a price-to-earnings ratio of -2.61 and a beta of 1.82. Equillium has a 1-year low of $0.45 and a 1-year high of $3.25. The company has a 50 day moving average of $0.76 and a 200-day moving average of $1.49.

Institutional Trading of Equillium

Several large investors have recently modified their holdings of EQ. Renaissance Technologies LLC grew its stake in Equillium by 43.6% during the second quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock worth $208,000 after buying an additional 91,200 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Equillium during the 1st quarter worth approximately $249,000. Finally, Decheng Capital LLC bought a new position in Equillium in the fourth quarter valued at approximately $3,215,000. 27.05% of the stock is 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.