Equillium (NASDAQ:EQ) Shares Down 4.7% - Here's Why

Key Points

• Equillium's shares dropped 4.7% during trading, closing at $1.82 after reaching a low of $1.73, with significantly reduced trading volume.
• The company reported an earnings loss of ($0.16) per share, missing analysts' expectations, and has a negative return on equity of 139.56%.
• Equillium is developing itolizumab, a monoclonal antibody in Phase III trials for acute graft-versus-host disease, indicating its focus on treatments for serious autoimmune disorders.

Equillium, Inc. (NASDAQ:EQ - Get Free Report)'s share price was down 4.7% during mid-day trading on Thursday . The company traded as low as $1.73 and last traded at $1.82. Approximately 1,414,864 shares were traded during trading, a decline of 94% from the average daily volume of 23,426,772 shares. The stock had previously closed at $1.91.

Equillium Trading Down 4.4%

The business has a 50 day moving average of $0.71 and a 200-day moving average of $0.60. The firm has a market capitalization of $103.53 million, a P/E ratio of -3.11 and a beta of 1.15.

Equillium (NASDAQ:EQ - Get Free Report) last released its quarterly 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 return on equity of 139.56% and a negative net margin of 19.62%. On average, analysts anticipate that Equillium, Inc. will post 0.14 EPS for the current fiscal 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.