Equillium, Inc. (NASDAQ:EQ) Short Interest Update

Equillium, Inc. (NASDAQ:EQ) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 283,200 shares, a decline of 22.0% from the March 15th total of 363,000 shares. Based on an average daily volume of 776,700 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research firms have recently commented on EQ. Leerink Partnrs cut Equillium from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 28th. Leerink Partners reaffirmed a “market perform” rating and set a $1.00 price target (down previously from $3.00) on shares of Equillium in a research report on Friday, March 28th.

Hedge Funds Weigh In On Equillium

A hedge fund recently bought a new stake in Equillium stock. Takeda Pharmaceutical Co. Ltd. bought a new stake in Equillium, Inc. (NASDAQ:EQ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,824,977 shares of the company’s stock, valued at approximately $1,369,000. Equillium accounts for 5.2% of Takeda Pharmaceutical Co. Ltd.’s portfolio, making the stock its 4th biggest position. Takeda Pharmaceutical Co. Ltd. owned 5.15% of Equillium as of its most recent SEC filing. Institutional investors and hedge funds own 27.05% of the company’s stock.

Equillium Trading Down 3.7 %

Shares of NASDAQ:EQ traded down $0.02 during trading on Monday, hitting $0.46. 44,814 shares of the company were exchanged, compared to its average volume of 359,029. The firm has a fifty day moving average price of $0.68 and a two-hundred day moving average price of $0.75. Equillium has a fifty-two week low of $0.36 and a fifty-two week high of $1.89. The stock has a market cap of $16.26 million, a price-to-earnings ratio of -3.25 and a beta of 1.87.

Equillium (NASDAQ:EQ) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.06. Equillium had a negative net margin of 10.05% and a negative return on equity of 20.68%. The company had revenue of $4.39 million for the quarter. As a group, research analysts predict that Equillium 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.