Equillium (NASDAQ:EQ) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Equillium from “Hold” to “Sell,” while other analysts remain more optimistic. The stock carries a consensus “Moderate Buy” rating and an average price target of $7.57.
• Equillium shares opened at $1.92, compared with a 52-week range of $0.76 to $3.54, and the company has a market capitalization of approximately $121.75 million.
• The clinical-stage biotechnology company reported quarterly EPS of -$0.04, beating the consensus estimate of -$0.05. Institutional investors own about 27.05% of the stock, with several firms recently establishing or increasing positions.

Equillium (NASDAQ:EQ - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other research firms have also weighed in on EQ. Raymond James Financial reissued a "strong-buy" rating and issued a $7.00 target price on shares of Equillium in a research note on Thursday, May 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Equillium in a report on Wednesday, June 24th. Clear Str raised shares of Equillium to a "strong-buy" rating in a research note on Tuesday, July 21st. Leerink Partners upgraded shares of Equillium from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $1.00 to $6.00 in a report on Thursday, May 28th. Finally, Stifel Nicolaus set a $5.00 price target on shares of Equillium in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $7.57.

Equillium Price Performance

Shares of Equillium stock opened at $1.92 on Friday. The firm has a 50 day simple moving average of $2.32 and a 200 day simple moving average of $2.34. Equillium has a fifty-two week low of $0.76 and a fifty-two week high of $3.54. The firm has a market cap of $121.75 million, a P/E ratio of -9.60 and a beta of 1.81.

Equillium (NASDAQ:EQ - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. On average, sell-side analysts expect that Equillium will post -0.21 EPS for the current year.

Institutional Trading of Equillium

A number of large investors have recently bought and sold shares of EQ. Jupiter Topco LLC bought a new position in Equillium in the second quarter valued at approximately $20,685,000. ADAR1 Capital Management LLC acquired a new stake in shares of Equillium during the second quarter worth $12,027,000. Eversept Partners LP acquired a new stake in shares of Equillium during the first quarter worth $2,998,000. Affinity Asset Advisors LLC bought a new stake in Equillium in the 1st quarter valued at $2,453,000. Finally, Janus Henderson Group PLC lifted its position in Equillium by 10.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,494,571 shares of the company's stock valued at $12,957,000 after acquiring an additional 632,359 shares in the last quarter. 27.05% of the stock is owned by institutional investors.

About Equillium

Equillium, Inc is a clinical-stage biotechnology company focused on developing therapies for severe autoimmune and inflammatory diseases. The company's research is based on modulating immune pathways involved in T-cell activation, inflammation and tissue damage.

Its lead investigational product is itolizumab, an anti-CD6 monoclonal antibody designed to regulate pathogenic T-cell activity. Equillium has evaluated itolizumab in immune-mediated conditions, including acute graft-versus-host disease and other inflammatory disorders.

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