Equillium (NASDAQ:EQ) Downgraded by Leerink Partnrs to Hold

Leerink Partnrs cut shares of Equillium (NASDAQ:EQ) from a strong-buy rating to a hold rating in a report released on Friday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Equillium’s FY2029 earnings at ($0.06) EPS.

Separately, Leerink Partners restated a “market perform” rating and set a $1.00 price target (down previously from $3.00) on shares of Equillium in a research note on Friday.

Equillium Stock Down 16.9 %

Equillium stock opened at $0.41 on Friday. Equillium has a 12 month low of $0.37 and a 12 month high of $2.43. The company’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.79. The stock has a market cap of $14.36 million, a P/E ratio of -2.90 and a beta of 1.87.

Equillium (NASDAQ:EQ) last issued its earnings results on Thursday, March 27th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.06. The company had revenue of $4.39 million for the quarter. Equillium had a negative return on equity of 20.68% and a negative net margin of 10.05%. On average, equities research analysts expect that Equillium will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Equillium

A hedge fund recently raised its stake in Equillium stock. DCF Advisers LLC lifted its stake in Equillium, Inc. (NASDAQ:EQ) by 91.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,947 shares of the company’s stock after buying an additional 29,985 shares during the period. DCF Advisers LLC owned about 0.18% of Equillium worth $47,000 at the end of the most recent reporting period. 27.05% of the stock is currently 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.