Equillium (NASDAQ:EQ) Trading Down 1.6% – What’s Next?

Equillium, Inc. (NASDAQ:EQ) shares dropped 1.6% during trading on Monday . The stock traded as low as $0.58 and last traded at $0.60. Approximately 147,867 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 254,076 shares. The stock had previously closed at $0.61.

Equillium Stock Performance

The stock has a market cap of $22.88 million, a P/E ratio of -4.61 and a beta of 1.78. The firm has a 50 day simple moving average of $0.82 and a two-hundred day simple moving average of $0.82.

Institutional Trading of Equillium

A hedge fund recently raised its stake in Equillium stock. Renaissance Technologies LLC increased its holdings in Equillium, Inc. (NASDAQ:EQ) by 43.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,400 shares of the company’s stock after purchasing 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 quarter. 27.05% of the stock is currently owned by hedge funds and other institutional investors.

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.