Equillium, Inc. (NASDAQ:EQ) Sees Large Growth in Short Interest

Equillium, Inc. (NASDAQ:EQ) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 218,000 shares, an increase of 14.4% from the September 30th total of 190,500 shares. Based on an average daily volume of 139,500 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.3% of the shares of the company are sold short.

Insider Buying and Selling

In related news, insider Penny Tom sold 38,806 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $0.85, for a total transaction of $32,985.10. Following the completion of the transaction, the insider now directly owns 10,051 shares in the company, valued at approximately $8,543.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 67,324 shares of company stock valued at $64,233. 30.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equillium

A hedge fund recently raised its stake in Equillium stock. Renaissance Technologies LLC grew its stake in Equillium, Inc. (NASDAQ:EQ) by 43.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 300,400 shares of the company’s stock after buying an additional 91,200 shares during the quarter. Renaissance Technologies LLC owned 0.85% of Equillium worth $208,000 as of its most recent SEC filing. Institutional investors own 27.05% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Equillium in a research note on Monday, August 19th.

Equillium Price Performance

Shares of EQ stock traded down $0.50 during mid-day trading on Thursday, hitting $0.88. 1,069,128 shares of the stock traded hands, compared to its average volume of 268,431. Equillium has a 52-week low of $0.45 and a 52-week high of $3.25. The stock has a market cap of $31.03 million, a P/E ratio of -3.76 and a beta of 1.83. The stock’s fifty day moving average is $0.97 and its two-hundred day moving average is $1.05.

Equillium (NASDAQ:EQ) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.16. Equillium had a negative return on equity of 36.88% and a negative net margin of 19.51%. The firm had revenue of $13.85 million during the quarter, compared to analyst estimates of $8.15 million. As a group, equities analysts forecast that Equillium will post -0.14 EPS for the current fiscal year.

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.