Equillium (NASDAQ:EQ) Receives Buy Rating from Roth Mkm

Equillium (NASDAQ:EQ)‘s stock had its “buy” rating restated by equities research analysts at Roth Mkm in a research note issued to investors on Thursday,Benzinga reports. They currently have a $12.00 target price on the stock. Roth Mkm’s target price points to a potential upside of 308.16% from the stock’s previous close.

A number of other equities analysts have also commented on EQ. B. Riley Financial started coverage on Equillium in a research note on Thursday, April 16th. They set a “buy” rating and a $6.00 price target for the company. Oppenheimer started coverage on Equillium in a research note on Thursday, April 23rd. They set an “outperform” rating and a $7.00 price target for the company. Cantor Fitzgerald began coverage on Equillium in a research note on Tuesday, April 7th. They set an “overweight” rating and a $10.00 price target for the company. Stifel Nicolaus set a $5.00 price objective on Equillium in a research report on Thursday. Finally, Wall Street Zen downgraded Equillium from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Equillium has an average rating of “Moderate Buy” and a consensus target price of $7.57.

Equillium Price Performance

Equillium stock traded up $0.31 during mid-day trading on Thursday, reaching $2.94. 1,526,009 shares of the stock traded hands, compared to its average volume of 472,864. The stock has a market capitalization of $185.90 million, a PE ratio of -9.25 and a beta of 1.67. Equillium has a 12-month low of $0.27 and a 12-month high of $3.10. The business’s 50-day moving average is $2.08 and its 200-day moving average is $1.62.

Equillium (NASDAQ:EQ) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Equities analysts anticipate that Equillium will post -0.24 EPS for the current fiscal year.

Insider Transactions at Equillium

In related news, COO Christine Zedelmayer sold 181,219 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $2.00, for a total value of $362,438.00. Following the transaction, the chief operating officer owned 62,586 shares of the company’s stock, valued at $125,172. This represents a 74.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EQ. Dimensional Fund Advisors LP bought a new position in Equillium in the first quarter worth approximately $31,000. Virtu Financial LLC grew its stake in Equillium by 133.4% in the third quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock worth $34,000 after purchasing an additional 13,591 shares in the last quarter. Millennium Management LLC bought a new position in Equillium in the third quarter worth approximately $35,000. Persistent Asset Partners Ltd bought a new position in Equillium in the third quarter worth approximately $99,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Equillium in the first quarter worth approximately $100,000. Institutional investors own 27.05% 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.