Equillium (NASDAQ:EQ) Stock Price Down 1.6% – Should You Sell?

Equillium, Inc. (NASDAQ:EQ) shares fell 1.6% during mid-day trading on Monday . The company traded as low as $0.58 and last traded at $0.60. 147,867 shares were traded during mid-day trading, a decline of 42% from the average session volume of 254,076 shares. The stock had previously closed at $0.61.

Equillium Price Performance

The firm has a market cap of $22.88 million, a P/E ratio of -4.61 and a beta of 1.78. The firm’s 50-day moving average price is $0.82 and its 200 day moving average price is $0.82.

Hedge Funds Weigh In On Equillium

An institutional investor recently raised its position in Equillium stock. Renaissance Technologies LLC raised its position in shares of Equillium, Inc. (NASDAQ:EQ) by 43.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,400 shares of the company’s stock after purchasing 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 quarter. 27.05% of the stock is owned by institutional investors.

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.