ADAR1 Capital Management LLC Has $7.45 Million Position in Equillium, Inc. $EQ

ADAR1 Capital Management LLC trimmed its position in Equillium, Inc. (NASDAQ:EQ - Free Report) by 33.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,726,659 shares of the company's stock after selling 1,881,419 shares during the period. ADAR1 Capital Management LLC owned approximately 5.89% of Equillium worth $7,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC bought a new stake in shares of Equillium in the 4th quarter valued at $9,057,000. Woodline Partners LP bought a new position in Equillium during the third quarter worth about $5,018,000. Aberdeen Group plc lifted its holdings in Equillium by 523.6% during the fourth quarter. Aberdeen Group plc now owns 2,366,688 shares of the company's stock worth $3,668,000 after acquiring an additional 1,987,162 shares in the last quarter. Eversept Partners LP acquired a new position in Equillium in the first quarter valued at about $2,998,000. Finally, Affinity Asset Advisors LLC acquired a new position in Equillium in the first quarter valued at about $2,453,000. Institutional investors own 27.05% of the company's stock.

Insider Activity at Equillium

In related news, insider Stephen Connelly sold 200,000 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $3.16, for a total value of $632,000.00. Following the completion of the transaction, the insider owned 793,000 shares of the company's stock, valued at approximately $2,505,880. This trade represents a 20.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Penny Tom sold 65,000 shares of Equillium stock in a transaction on 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 $191,750. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 406,392 shares of company stock valued at $1,224,898. Corporate insiders own 17.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQ shares. Stifel Nicolaus set a $5.00 price objective on Equillium in a research report on Thursday, May 28th. Clear Str upgraded shares of Equillium to a "strong-buy" rating in a report on Tuesday, July 21st. Piper Sandler assumed coverage on shares of Equillium in a research note on Monday, July 13th. They issued an "overweight" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Equillium in a report on Wednesday, June 24th. Finally, Cantor Fitzgerald started coverage on shares of Equillium in a research report on Tuesday, April 7th. They set an "overweight" rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.57.

Equillium Stock Performance

NASDAQ EQ opened at $2.32 on Wednesday. The stock has a market capitalization of $146.69 million, a price-to-earnings ratio of -7.25 and a beta of 1.77. The stock's 50 day moving average price is $2.77 and its two-hundred day moving average price is $2.14. Equillium, Inc. has a 52 week low of $0.37 and a 52 week high of $3.54.

Equillium (NASDAQ:EQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). On average, equities research analysts forecast that Equillium, Inc. will post -0.24 EPS for the current year.

Equillium Profile

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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