Hudson Bay Capital Management LP Makes New $398,000 Investment in Equillium, Inc. $EQ

Hudson Bay Capital Management LP purchased a new position in shares of Equillium, Inc. (NASDAQ:EQ) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 278,538 shares of the company’s stock, valued at approximately $398,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EQ. Virtu Financial LLC grew its holdings in shares of Equillium by 133.4% in the third quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock valued at $34,000 after purchasing an additional 13,591 shares during the period. Millennium Management LLC acquired a new position in Equillium in the 3rd quarter valued at about $35,000. Persistent Asset Partners Ltd acquired a new position in Equillium in the 3rd quarter valued at about $99,000. Boothbay Fund Management LLC purchased a new stake in shares of Equillium in the 3rd quarter valued at approximately $174,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Equillium in the 3rd quarter valued at approximately $178,000. Institutional investors and hedge funds own 27.05% of the company’s stock.

Equillium Stock Down 5.2%

Shares of NASDAQ EQ opened at $2.02 on Tuesday. The business’s 50 day moving average is $1.65 and its two-hundred day moving average is $1.43. Equillium, Inc. has a 52-week low of $0.27 and a 52-week high of $2.70. The firm has a market cap of $123.00 million, a price-to-earnings ratio of -3.26 and a beta of 1.81.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQ. Stifel Nicolaus started coverage on shares of Equillium in a research report on Wednesday, February 25th. They set a “buy” rating and a $5.00 price target on the stock. Wall Street Zen raised Equillium from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Roth Mkm started coverage on Equillium in a research note on Friday, March 13th. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Equillium in a report on Monday, December 29th. Finally, Zacks Research raised Equillium to a “hold” rating in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Equillium presently has a consensus rating of “Hold” and an average price target of $6.00.

Insider Buying and Selling at Equillium

In related news, COO Christine Zedelmayer sold 120,312 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $2.50, for a total value of $300,780.00. Following the sale, the chief operating officer owned 62,586 shares in the company, valued at approximately $156,465. The trade was a 65.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 494,001 shares of company stock valued at $998,895 over the last ninety days. Insiders own 31.60% of the company’s stock.

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.