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

Equillium, Inc. (NASDAQ:EQ) saw a large growth in short interest during 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. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 182,900 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Equillium in a research report on Monday, August 19th.

Insider Buying and Selling at Equillium

In other news, insider Penny Tom sold 38,806 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $0.85, for a total transaction of $32,985.10. Following the completion of the sale, the insider now directly owns 10,051 shares of the company’s stock, valued at $8,543.35. This trade represents a 79.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 77,324 shares of company stock valued at $71,233. 30.30% of the stock is owned by insiders.

Institutional Trading of Equillium

A hedge fund recently raised its stake in Equillium stock. Renaissance Technologies LLC boosted its stake in shares of Equillium, Inc. (NASDAQ:EQ) by 43.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300,400 shares of the company’s stock after purchasing an additional 91,200 shares during the period. Renaissance Technologies LLC owned about 0.85% of Equillium worth $208,000 at the end of the most recent reporting period. Institutional investors own 27.05% of the company’s stock.

Equillium Price Performance

EQ stock opened at $0.75 on Monday. The firm has a market capitalization of $26.61 million, a P/E ratio of -5.36 and a beta of 1.83. Equillium has a 52-week low of $0.48 and a 52-week high of $3.25. The company’s 50 day simple moving average is $0.88 and its 200-day simple moving average is $0.90.

Equillium Company Profile

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.