Equillium, Inc. (NASDAQ:EQ) Sees Large Increase in Short Interest

Equillium, Inc. (NASDAQ:EQ) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 153,600 shares, an increase of 30.6% from the October 31st total of 117,600 shares. Based on an average daily volume of 182,900 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Equillium Price Performance

NASDAQ:EQ opened at $0.75 on Monday. The company’s 50-day moving average is $0.88 and its two-hundred day moving average is $0.90. Equillium has a 1-year low of $0.48 and a 1-year high of $3.25. The firm has a market capitalization of $26.61 million, a price-to-earnings ratio of -5.36 and a beta of 1.83.

Insiders Place Their Bets

In other news, insider Penny Tom sold 38,806 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 directly owns 10,051 shares in the company, valued at $8,543.35. This represents a 79.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 77,324 shares of company stock valued at $71,233 in the last 90 days. 30.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Equillium stock. Renaissance Technologies LLC lifted its position in Equillium, Inc. (NASDAQ:EQ) by 43.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 300,400 shares of the company’s stock after buying an additional 91,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.85% of Equillium worth $208,000 at the end of the most recent reporting period. 27.05% of the stock is owned by institutional investors and hedge funds.

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.