Equillium (NASDAQ:EQ) Shares Down 2.8% - Here's What Happened

Key Points

• Equillium, Inc. shares experienced a decline of 2.8%, trading at $1.41 with a volume drop of 58% from the average.
• Wall Street Zen has upgraded Equillium to a "sell" rating, while the stock holds an average price target of $1.00.
• The company's recent earnings report showed a loss of ($0.16) per share, worse than the expected ($0.14), with a negative net margin of 19.62%.

Equillium, Inc. (NASDAQ:EQ - Get Free Report) shares fell 2.8% during trading on Tuesday . The stock traded as low as $1.41 and last traded at $1.41. 649,853 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,536,109 shares. The stock had previously closed at $1.45.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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 data from MarketBeat.com, Equillium currently has an average rating of "Hold" and an average price target of $1.00.

Equillium Trading Down 2.8%

The company has a fifty day moving average of $1.18 and a 200-day moving average of $0.70. The company has a market capitalization of $83.90 million, a price-to-earnings ratio of -2.52 and a beta of 1.58.

Equillium (NASDAQ:EQ - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.16) earnings per share 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, equities research analysts expect that Equillium, Inc. will post 0.14 EPS for the current year.

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.

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