Equillium, Inc. (NASDAQ:EQ) Sees Significant Drop in Short Interest

Equillium, Inc. (NASDAQ:EQ) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 363,900 shares, a drop of 45.9% from the February 13th total of 672,300 shares. Based on an average daily volume of 770,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 2.1% of the shares of the company are short sold.

Institutional Trading of Equillium

An institutional investor recently raised its position in Equillium stock. DCF Advisers LLC boosted its stake in Equillium, Inc. (NASDAQ:EQ) by 91.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,947 shares of the company’s stock after buying an additional 29,985 shares during the period. DCF Advisers LLC owned 0.18% of Equillium worth $47,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 27.05% of the company’s stock.

Equillium Stock Down 3.2 %

EQ stock traded down $0.03 during midday trading on Friday, reaching $0.75. The company had a trading volume of 111,892 shares, compared to its average volume of 365,234. The stock has a 50 day moving average price of $0.76 and a 200 day moving average price of $0.81. The firm has a market capitalization of $26.75 million, a PE ratio of -5.39 and a beta of 1.87. Equillium has a fifty-two week low of $0.49 and a fifty-two week high of $2.99.

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.