Equillium, Inc. (NASDAQ:EQ) Short Interest Down 46.1% in October

by · The Markets Daily

Equillium, Inc. (NASDAQ:EQ – Get Free Report) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 117,600 shares, a decline of 46.1% from the October 15th total of 218,000 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 184,500 shares, the days-to-cover ratio is presently 0.6 days.

Equillium Price Performance

NASDAQ:EQ traded down $0.07 during mid-day trading on Wednesday, hitting $0.78. The company’s stock had a trading volume of 101,065 shares, compared to its average volume of 270,199. The business’s fifty day moving average is $0.93 and its two-hundred day moving average is $0.98. Equillium has a 1 year low of $0.47 and a 1 year high of $3.25.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Analysis on Equillium

Insider Activity

In other Equillium news, insider Penny Tom sold 38,806 shares of the 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 sale, the insider now owns 10,051 shares of the company’s stock, valued at approximately $8,543.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 67,324 shares of company stock worth $64,233. 30.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Equillium

An institutional investor recently raised its position in Equillium stock. Renaissance Technologies LLC grew its position in Equillium, Inc. (NASDAQ:EQ – Free Report) by 43.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 300,400 shares of the company’s stock after acquiring 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 quarter. Institutional investors and hedge funds own 27.05% of the company’s stock.

Equillium Company Profile

(Get Free Report)

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.

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