Equillium (NASDAQ:EQ) Insider Stephen Connelly Sells 30,975 Shares

Equillium, Inc. (NASDAQ:EQ) insider Stephen Connelly sold 30,975 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $2.94, for a total transaction of $91,066.50. Following the sale, the insider directly owned 762,025 shares in the company, valued at approximately $2,240,353.50. The trade was a 3.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Stephen Connelly also recently made the following trade(s):

• On Thursday, June 4th, Stephen Connelly sold 200,000 shares of Equillium stock. The shares were sold at an average price of $3.16, for a total transaction of $632,000.00.

Equillium Price Performance

Shares of Equillium stock opened at $2.94 on Friday. The firm’s fifty day simple moving average is $2.20 and its 200-day simple moving average is $1.71. The stock has a market capitalization of $185.90 million, a price-to-earnings ratio of -9.19 and a beta of 1.77. Equillium, Inc. has a 12 month low of $0.27 and a 12 month high of $3.45.

Equillium (NASDAQ:EQ) last announced its earnings results on Wednesday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Analysts anticipate that Equillium, Inc. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On Equillium

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cantor Fitzgerald L. P. purchased a new position in Equillium in the 3rd quarter valued at $608,000. Aberdeen Group plc grew its position in Equillium by 523.6% in the 4th quarter. Aberdeen Group plc now owns 2,366,688 shares of the company’s stock valued at $3,668,000 after buying an additional 1,987,162 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Equillium in the 3rd quarter valued at $398,000. Millennium Management LLC purchased a new position in Equillium in the 3rd quarter valued at $35,000. Finally, Virtu Financial LLC grew its position in Equillium by 133.4% in the 3rd quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock valued at $34,000 after buying an additional 13,591 shares during the last quarter. 27.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on EQ. Oppenheimer began coverage on shares of Equillium in a report on Thursday, April 23rd. They issued an “outperform” rating and a $7.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $12.00 target price on shares of Equillium in a report on Thursday, May 28th. Wall Street Zen cut shares of Equillium from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $7.00 target price on shares of Equillium in a report on Thursday, May 28th. Finally, Cantor Fitzgerald began coverage on shares of Equillium in a report on Tuesday, April 7th. They issued an “overweight” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.57.

Equillium Company Profile

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.