Equillium, Inc. (NASDAQ:EQ) Short Interest Up 31.1% in August

Equillium, Inc. (NASDAQ:EQ) was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 175,500 shares, a growth of 31.1% from the July 31st total of 133,900 shares. Based on an average trading volume of 334,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.9% of the shares of the company are short sold.

Equillium Price Performance

Shares of EQ traded down $0.01 during trading hours on Friday, hitting $1.07. The stock had a trading volume of 120,214 shares, compared to its average volume of 198,338. The company’s fifty day moving average is $0.80 and its two-hundred day moving average is $1.48. Equillium has a 52 week low of $0.45 and a 52 week high of $3.25. The stock has a market capitalization of $37.90 million, a price-to-earnings ratio of -2.97 and a beta of 1.82.

Equillium (NASDAQ:EQ) last posted its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.16. Equillium had a negative net margin of 19.51% and a negative return on equity of 36.88%. The business had revenue of $13.85 million for the quarter, compared to analyst estimates of $8.15 million. Equities analysts predict that Equillium will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Equillium in a research report on Monday, August 19th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Equillium during the 1st quarter worth about $249,000. Renaissance Technologies LLC lifted its position in Equillium by 43.6% during the 2nd quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock valued at $208,000 after purchasing an additional 91,200 shares during the period. Finally, Decheng Capital LLC acquired a new position in Equillium during the 4th quarter valued at about $3,215,000. Institutional investors and hedge funds own 27.05% of the company’s stock.

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.