Short Interest in Equillium, Inc. (NASDAQ:EQ) Increases By 30.6%

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

Wall Street Analyst Weigh In

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

Insider Transactions at Equillium

In related news, insider Penny Tom sold 38,806 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 10,051 shares of the company’s stock, valued at approximately $8,543.35. This trade represents a 79.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 77,324 shares of company stock valued at $71,233 in the last ninety days. 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 boosted its stake in Equillium, Inc. (NASDAQ:EQ) by 43.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 300,400 shares of the company’s stock after buying an additional 91,200 shares during the period. Renaissance Technologies LLC owned approximately 0.85% of Equillium worth $208,000 as of its most recent filing with the SEC. 27.05% of the stock is owned by hedge funds and other institutional investors.

Equillium Stock Down 2.5 %

EQ opened at $0.75 on Monday. The stock has a market cap of $26.61 million, a price-to-earnings ratio of -5.36 and a beta of 1.83. Equillium has a 12-month low of $0.48 and a 12-month high of $3.25. The business has a 50 day moving average of $0.88 and a 200-day moving average of $0.90.

Equillium Company Profile

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.