Leerink Partnrs Predicts Increased Earnings for Equillium

Equillium, Inc. (NASDAQ:EQ) – Investment analysts at Leerink Partnrs boosted their FY2024 earnings per share (EPS) estimates for Equillium in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst T. Smith now expects that the company will earn ($0.34) per share for the year, up from their previous forecast of ($0.61). The consensus estimate for Equillium’s current full-year earnings is ($0.12) per share. Leerink Partnrs also issued estimates for Equillium’s Q4 2024 earnings at ($0.27) EPS and FY2025 earnings at ($1.50) EPS.

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

Equillium Stock Performance

Shares of EQ opened at $0.71 on Monday. The firm has a market cap of $25.14 million, a PE ratio of -5.07 and a beta of 1.83. The firm’s 50 day moving average price is $0.91 and its 200 day moving average price is $0.96. Equillium has a twelve month low of $0.48 and a twelve month high of $3.25.

Insider Buying and Selling at Equillium

In related news, insider Penny Tom sold 38,806 shares of the firm’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 value of $32,985.10. Following the completion of the sale, the insider now owns 10,051 shares of the company’s stock, valued at $8,543.35. This trade represents a 79.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 77,324 shares of company stock valued at $71,233 in the last 90 days. 30.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equillium

An institutional investor recently raised its position in Equillium stock. Renaissance Technologies LLC raised its position in Equillium, Inc. (NASDAQ:EQ) by 43.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,400 shares of the company’s stock after buying an additional 91,200 shares during the quarter. Renaissance Technologies LLC owned 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.

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.