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

Equillium, Inc. (NASDAQ:EQ) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 153,600 shares, a growth of 30.6% from the October 31st total of 117,600 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 182,900 shares, the short-interest ratio is presently 0.8 days.

Equillium Price Performance

NASDAQ:EQ opened at $0.75 on Monday. Equillium has a 12 month low of $0.48 and a 12 month high of $3.25. The firm has a market capitalization of $26.61 million, a PE ratio of -5.36 and a beta of 1.83. The business’s fifty day moving average price is $0.88 and its 200 day moving average price is $0.90.

Insider Buying and Selling at Equillium

In related news, insider Penny Tom sold 38,806 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $0.85, for a total transaction of $32,985.10. Following the sale, the insider now directly owns 10,051 shares in the company, valued at approximately $8,543.35. This represents a 79.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 77,324 shares of company stock valued at $71,233 in the last 90 days. Company insiders own 30.30% of the company’s stock.

Institutional Inflows and Outflows

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 and Exchange Commission. The institutional investor owned 300,400 shares of the company’s stock after buying an additional 91,200 shares during the period. Renaissance Technologies LLC owned 0.85% of Equillium worth $208,000 at the end of the most recent reporting period. Hedge funds and other 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 report on Monday, August 19th.

About Equillium

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.