Equities Analysts Offer Predictions for Equillium, Inc.'s Q3 2024 Earnings (NASDAQ:EQ)

Equillium, Inc. (NASDAQ:EQ - Free Report) - Equities research analysts at Leerink Partnrs upped their Q3 2024 earnings estimates for shares of Equillium in a research note issued on Monday, March 25th. Leerink Partnrs analyst T. Smith now expects that the company will earn $0.58 per share for the quarter, up from their prior estimate of $0.50. The consensus estimate for Equillium's current full-year earnings is ($0.15) per share. Leerink Partnrs also issued estimates for Equillium's Q4 2024 earnings at $0.03 EPS and FY2028 earnings at $2.32 EPS.

Separately, HC Wainwright decreased their target price on Equillium from $4.50 to $4.00 and set a "buy" rating for the company in a report on Tuesday, December 26th.

Equillium Stock Up 12.1 %

Shares of EQ stock traded up $0.25 on Thursday, reaching $2.31. 386,043 shares of the stock were exchanged, compared to its average volume of 374,253. Equillium has a 1-year low of $0.45 and a 1-year high of $3.25. The stock has a market cap of $81.45 million, a P/E ratio of -5.77 and a beta of 1.64. The firm has a 50 day moving average of $1.95 and a two-hundred day moving average of $1.11.

Institutional Trading of Equillium

Hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in shares of Equillium by 56.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 31,339 shares of the company's stock worth $33,000 after buying an additional 11,339 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Equillium in the 2nd quarter worth approximately $34,000. Dimensional Fund Advisors LP acquired a new stake in shares of Equillium during the 3rd quarter valued at approximately $43,000. Jane Street Group LLC acquired a new position in Equillium in the first quarter worth $47,000. Finally, State Street Corp boosted its holdings in shares of Equillium by 13.2% in the 1st quarter. State Street Corp now owns 56,220 shares of the company's stock valued at $177,000 after buying an additional 6,564 shares during the period. Hedge funds and other institutional investors own 27.05% of the company's stock.

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 clinical-stage monoclonal antibody that targets the novel immune checkpoint receptor CD6, which is in Phase III clinical trials for the treatment of acute graft-versus-host disease; completed Phase Ib clinical trial for the treatment of asthma disease; and Phase Ib clinical trial for the treatment of and lupus nephritis.