Short Interest in Equillium, Inc. (NASDAQ:EQ) Decreases By 37.5%

Key Points

• Equillium, Inc. experienced a significant decline in short interest of 37.5% in August, dropping to 2,050,000 shares as of August 31st.
• The company's stock has a consensus rating of "Hold" from analysts, with an average price target of $1.00.
• Equillium's stock fell by 8.6% during recent trading, with a current price of $1.71, down from a one-year high of $2.35.

Equillium, Inc. (NASDAQ:EQ - Get Free Report) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 2,050,000 shares, a decline of 37.5% from the August 15th total of 3,280,000 shares. Based on an average trading volume of 8,230,000 shares, the short-interest ratio is presently 0.2 days. Approximately 5.0% of the shares of the stock are short sold. Approximately 5.0% of the shares of the stock are short sold. Based on an average trading volume of 8,230,000 shares, the short-interest ratio is presently 0.2 days.

Equillium Price Performance

NASDAQ EQ traded down $0.04 during trading on Friday, hitting $1.46. 1,154,506 shares of the company's stock traded hands, compared to its average volume of 2,328,027. The stock has a fifty day moving average of $1.13 and a two-hundred day moving average of $0.69. Equillium has a 12-month low of $0.27 and a 12-month high of $2.35. The firm has a market cap of $86.87 million, a P/E ratio of -2.61 and a beta of 1.58.

Equillium (NASDAQ:EQ - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Equillium had a negative net margin of 19.62% and a negative return on equity of 139.56%. As a group, analysts expect that Equillium will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Equillium to a "sell" rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $1.00.

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.