Equillium (NASDAQ:EQ) Stock Rating Reaffirmed by HC Wainwright

Equillium (NASDAQ:EQ)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Monday, Benzinga reports. They currently have a $5.00 target price on the stock. HC Wainwright also issued estimates for Equillium’s FY2024 earnings at $0.62 EPS.

Equillium Stock Up 5.9 %

EQ opened at $0.83 on Monday. Equillium has a 52 week low of $0.45 and a 52 week high of $3.25. The business has a fifty day simple moving average of $0.75 and a 200-day simple moving average of $1.50. The firm has a market cap of $29.13 million, a P/E ratio of -2.30 and a beta of 1.82.

Institutional Investors Weigh In On Equillium

Several large investors have recently added to or reduced their stakes in the business. Decheng Capital LLC purchased a new stake in Equillium during the 4th quarter worth about $3,215,000. Acadian Asset Management LLC acquired a new position in shares of Equillium during the first quarter worth about $249,000. Finally, Renaissance Technologies LLC increased its stake in shares of Equillium by 43.6% during the second quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock worth $208,000 after buying an additional 91,200 shares during the period. 27.05% of the stock is owned by hedge funds and other institutional investors.

Equillium Company Profile

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.