1,498,993 Shares in Equillium, Inc. $EQ Purchased by Eversept Partners LP

Key Points

• Eversept Partners LP acquired 1,498,993 Equillium shares worth approximately $3.0 million, representing about 2.37% of the company. Institutional investors collectively own 27.05% of Equillium.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $7.57. Recent targets range from $6 to $10, although one firm downgraded the stock to “sell.”
• Equillium shares opened at $2.46, compared with a 12-month range of $0.37 to $3.54. The clinical-stage biotech reported a quarterly loss of $0.06 per share, missing estimates by $0.02, while insiders sold 406,392 shares worth roughly $1.22 million over the last quarter.

Eversept Partners LP acquired a new stake in Equillium, Inc. (NASDAQ:EQ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,498,993 shares of the company's stock, valued at approximately $2,998,000. Eversept Partners LP owned about 2.37% of Equillium as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new position in shares of Equillium in the 1st quarter worth approximately $31,000. Virtu Financial LLC raised its position in shares of Equillium by 133.4% during the 3rd quarter. Virtu Financial LLC now owns 23,779 shares of the company's stock valued at $34,000 after acquiring an additional 13,591 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Equillium during the 3rd quarter valued at approximately $35,000. OMERS ADMINISTRATION Corp bought a new position in Equillium during the first quarter worth $100,000. Finally, Royal Bank of Canada bought a new position in Equillium during the fourth quarter worth $124,000. Institutional investors and hedge funds own 27.05% of the company's stock.

Insider Transactions at Equillium

In related news, COO Christine Zedelmayer sold 86,012 shares of Equillium stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $2.80, for a total value of $240,833.60. Following the sale, the chief operating officer directly owned 62,586 shares in the company, valued at $175,240.80. This trade represents a 57.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Penny Tom sold 65,000 shares of Equillium stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $2.95, for a total transaction of $191,750.00. Following the completion of the sale, the insider owned 65,000 shares in the company, valued at approximately $191,750. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 406,392 shares of company stock worth $1,224,898. Insiders own 17.84% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Leerink Partners upgraded shares of Equillium from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $1.00 to $6.00 in a research note on Thursday, May 28th. Cantor Fitzgerald began coverage on shares of Equillium in a research report on Tuesday, April 7th. They issued an "overweight" rating and a $10.00 price target on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $7.00 price target on shares of Equillium in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Equillium from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Finally, Piper Sandler started coverage on shares of Equillium in a research report on Monday, July 13th. They set an "overweight" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.57.

Equillium Price Performance

NASDAQ:EQ opened at $2.46 on Tuesday. Equillium, Inc. has a 12-month low of $0.37 and a 12-month high of $3.54. The firm has a market capitalization of $155.54 million, a P/E ratio of -7.69 and a beta of 1.77. The business has a 50 day simple moving average of $2.76 and a 200 day simple moving average of $2.13.

Equillium (NASDAQ:EQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Research analysts anticipate that Equillium, Inc. will post -0.24 EPS for the current fiscal year.

About Equillium

Equillium, Inc NASDAQ: EQ is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies to treat severe autoimmune diseases and prevent organ transplant rejection. The company's lead therapeutic candidate, EQ001 (itolizumab), is a humanized monoclonal antibody that modulates T-cell activation by targeting the CD6 receptor. Equillium's pipeline also includes additional biologic candidates aimed at addressing indications such as acute graft-versus-host disease (GVHD) and lupus nephritis.

Founded in 2015 and headquartered in La Jolla, California, Equillium in-licensed itolizumab from Biocon Limited, leveraging the antibody's established safety profile in earlier clinical studies.

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