Short Interest in Equillium, Inc. (NASDAQ:EQ) Expands By 47.0%

Equillium, Inc. (NASDAQ:EQ) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 1,965,458 shares, an increase of 47.0% from the January 29th total of 1,336,687 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average daily volume of 542,633 shares, the short-interest ratio is presently 3.6 days. Based on an average daily volume of 542,633 shares, the short-interest ratio is presently 3.6 days. Currently, 4.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EQ shares. Wall Street Zen downgraded Equillium from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Equillium in a report on Monday, December 29th. Stifel Nicolaus initiated coverage on shares of Equillium in a report on Wednesday. They set a “buy” rating and a $5.00 target price for the company. Finally, Zacks Research raised shares of Equillium to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Equillium Stock Performance

NASDAQ EQ opened at $1.82 on Friday. The stock’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.38. The firm has a market capitalization of $110.82 million, a P/E ratio of -2.94 and a beta of 1.87. Equillium has a fifty-two week low of $0.27 and a fifty-two week high of $2.35.

Insider Transactions at Equillium

In related news, COO Christine Zedelmayer sold 185,937 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $1.76, for a total transaction of $327,249.12. Following the completion of the transaction, the chief operating officer owned 191,444 shares in the company, valued at $336,941.44. This represents a 49.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 328,174 shares of company stock worth $533,163 over the last quarter. Company insiders own 31.60% of the company’s stock.

Institutional Investors Weigh In On Equillium

Hedge funds and other institutional investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC boosted its holdings in Equillium by 0.9% in the 4th quarter. ADAR1 Capital Management LLC now owns 5,608,078 shares of the company’s stock valued at $8,693,000 after purchasing an additional 48,090 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Equillium in the fourth quarter valued at approximately $9,057,000. Balyasny Asset Management L.P. grew its position in Equillium by 3.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,076,250 shares of the company’s stock worth $3,218,000 after acquiring an additional 72,602 shares during the period. Cantor Fitzgerald L. P. grew its position in Equillium by 32.4% in the fourth quarter. Cantor Fitzgerald L. P. now owns 562,643 shares of the company’s stock worth $872,000 after acquiring an additional 137,643 shares during the period. Finally, Diadema Partners LP increased its stake in Equillium by 15.8% during the fourth quarter. Diadema Partners LP now owns 347,393 shares of the company’s stock worth $538,000 after acquiring an additional 47,393 shares during the last quarter. 27.05% of the stock is currently owned by institutional investors and hedge funds.

About Equillium

Equillium, Inc (NASDAQ: EQ) is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies to treat severe autoimmune diseases and prevent organ transplant rejection. The company’s lead therapeutic candidate, EQ001 (itolizumab), is a humanized monoclonal antibody that modulates T-cell activation by targeting the CD6 receptor. Equillium’s pipeline also includes additional biologic candidates aimed at addressing indications such as acute graft-versus-host disease (GVHD) and lupus nephritis.

Founded in 2015 and headquartered in La Jolla, California, Equillium in-licensed itolizumab from Biocon Limited, leveraging the antibody’s established safety profile in earlier clinical studies.