Equillium, Inc. (EQ)
Health Care · clinical-stage autoimmune and inflammatory disease therapeutics · NASDAQ
A clinical-stage biotechnology company developing novel aryl hydrocarbon receptor (AhR) modulators for autoimmune and inflammatory diseases.
What Equillium, Inc. does
Equillium is a clinical-stage biotechnology company developing novel therapeutics to treat severe autoimmune and inflammatory disorders. The company's primary focus is advancing EQ504, a novel aryl hydrocarbon receptor (AhR) modulator, through clinical development. To date, Equillium has generated no product sales and has incurred significant operating losses as it invests substantially all efforts in research and development of its product candidates.
Themes: autoimmune and inflammatory disorders, AhR modulators, clinical development stage
Fundamentals
- Price$2.36 as of 2026-08-26 close
- Market cap$150M as of 2026-08-26
- 1-year return+21.0% 2025-08-26 close $1.95 → 2026-08-26 close $2.36
- P/En/a negative earnings
- Net margin-19.6% as of 2026-08-27
- ROE-61.4% as of 2026-08-27
- Debt / equity0.00 as of 2026-08-27
- Revenue growth (YoY)+13.9% FY2024 vs FY2023, SEC XBRL
- Revenue CAGR (3y)+61.5% SEC XBRL
- Beta1.93 as of 2026-08-27
- Last reported earnings2026-08-13 SEC EDGAR Form 8-K (Item 2.02)
How EQ compares in its sector
- net profit marginmiddle range 504 covered Health Care peers, as of 2026-08-27
- operating marginmiddle range 504 covered Health Care peers, as of 2026-08-27
- return on equitymiddle range 576 covered Health Care peers, as of 2026-08-27
- 3-year revenue CAGRtop 25% 402 covered Health Care peers
- free cash flow (absolute dollars, latest fiscal year)middle range 493 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How Equillium, Inc. looks technically
Equillium, Inc. (EQ) is trading 23.0% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 248 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 17, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 51, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bullish about 9 trading days ago (its momentum flipped positive). It made a new 20-day low about 10 trading days ago. It is 33.3% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 23.0% above its 200-day average, the long-term trend line — a longer-term uptrend | +22.9% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $2.57 | $2.57 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $1.92 | $1.92 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing high 8 calendar days ago — the swings before that are what the structure reading is measured on | 8 sessions |
| Wave structure | its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five; the labelling fails if price closes above 2.55. It is one of several labellings that fit, and it describes the swings already printed, not what comes next. The same swings also read as a three-part correction in leg C. | possible downward five-wave sequence, in wave 3 (one of several readings) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 248 trading days ago — a "golden cross", a bullish long-term signal | 248 sessions |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 17, below the 25 that marks a real trend) | 16.6 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 51, neither overbought (above 70) nor oversold (below 30) | 50.5 |
|---|---|---|
| Position in its 14-day range | it is trading in the upper half of its 14-day range ($1.96 to $2.55) — its "stochastic" reading is 68 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 67.8 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bullish about 9 trading days ago (its momentum flipped positive) | 9 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $3.54 | $3.54 |
|---|---|---|
| From the 52-week high | it is 33.3% below its 52-week high (its highest price of the past year) | -33.3% |
| Above the 52-week low | it is 210.5% above its 52-week low (its lowest price of the past year) | +210.5% |
| Below the 52-week high | it is 33.3% below its highest point of the past year | 33.3% |
| Since a 20-day breakout | it made a new 20-day low about 10 trading days ago | 10 sessions |
| Since a 55-day breakout | it made a new 55-day low about 10 trading days ago | 10 sessions |
| All-time high | its highest closing price on record is $27.05 (set on 2020-07-13) | $27.05 |
| Given back of the 52-week move | over the past year its closes ranged ($0.84 to $3.20), and it has given back roughly a third of its rise from last year’s low — 36% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $1.67 to $1.74. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 35.6% |
| From the all-time high | it is 91.3% below its all-time high | -91.3% |
| Nearest price level | it is sitting right on a support level at $2.35 — a price it turned at twice since 2025-09-05, most recently on 2026-07-17. Since 2024-08-26 it has 15 such levels below the current price and 1 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -0.2% |
| All-time low | its lowest closing price on record is $0.27 (set on 2025-06-24) | $0.27 |
| Above the all-time low | it is 774.1% above its all-time low | +774.1% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are narrower than usual versus its own recent 6-month history (tighter than about 87% of it) | 13th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.2073 between its high and its low — about 8.8% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.2073 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $2.03 and $2.45 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $2.03 – $2.24 – $2.45 |
| Typical daily range (% of price) | its price moves about 8.8% in a typical session — among the most volatile in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 8.8% |
| Stretch from the 200-day average | it is trading 2.1 daily ranges above its 200-day average price (23.0% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 2.1 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 1.43× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
3
| Since a doji | 3 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 3 sessions ago |
|---|---|---|
| Since a bullish engulfing | today it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | today |
| Since a bearish engulfing | 2 sessions ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | 2 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-08-26 at essentially the same price it closed at the session before — no meaningful overnight gap | 0.0% |
|---|---|---|
| Gap filled | a 2.6% gap down opened on 2026-08-20 has been "filled" 4 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 4 sessions ago |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 8.9 percentage points (the stock lost 5.2% while the market gained 3.7%) | -8.9% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 0.3 percentage points (the stock gained 1.7% while the market gained 2.1%) | -0.3% |
| vs market, 6 months | over the past 6 months this stock beat the market by 24.5 percentage points (the stock gained 35.6% while the market gained 11.1%) | +24.5% |
| vs market, 12 months | over the past 12 months this stock beat the market by 2.3 percentage points (the stock gained 21.0% while the market gained 18.7%) | +2.3% |
Signal agreement
2
| Bullish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, MACD momentum is positive, outperforming the market over 6 months — these describe past price behaviour, not a forecast | 4 of 9 |
|---|---|---|
| Bearish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bearish state: trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 1 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 11% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-21 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 8.8% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | -10.9% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 1% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $2.34 — a volume-weighted average of daily closes over 160 sessions, not a true tick-by-tick VWAP. | +0.8% |
|---|---|---|
| Vs the average paid since it last reported | the price is 4% above the average price paid since it last reported on 2026-08-13 (its 10-Q), so the typical buyer over that stretch is showing a gain. That average is $2.28 — a volume-weighted average of daily closes over 10 sessions, not a true tick-by-tick VWAP. | +3.6% |
Price levels it has turned at before
EQ last closed at $2.36 on 2026-08-26. Since 2024-08-26 it has turned at 15 prices below its last close and 1 above; the 3 nearest below and the nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $2.35 | Support | 0.2% below the last close | turned there twice · 2025-09-05 to 2026-07-17 |
| $2.69 | Resistance | 13.9% above the last close | turned there twice · 2026-03-16 to 2026-07-07 |
| $1.97 | Support | 16.7% below the last close | turned there three times · 2026-02-24 to 2026-08-14 |
| $1.65 | Support | 30.1% below the last close | turned there twice · 2025-10-07 to 2026-03-09 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five.
This labelling fails — stops being a possible reading at all — if it closes above $2.55.
This is one of several labellings that fit the same swings, so treat it as a reading rather than the reading. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.
On past moves of this shape the leg has usually ended somewhere between $1.09 and $1.65 — that is where it has tended to end if the count holds, not a forecast of where the price goes.
Alternate reading: The same swings also read as a three-part correction in leg C, which fails on a close above $2.55.
This reading has stood for 1 trading day, since 2026-08-26.
Read from daily closes as of 2026-08-26.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · Pulled back from the 12-month high · trendless / choppy (low ADX) · beating the market · Printed a bullish engulfing pair · Most volatile (6%+ typical daily range) | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-26. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingStrong Buy (1.11 mean, 1=Strong Buy…5=Strong Sell) — 9 analysts
- Mean price target$8.56 range $4.00 – $20.00; median $7.00
Analyst estimates, as of 2026-08-19. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for EQ
- Consensus EPS estimate-$0.05143 next reporting period, as of 2026-08-19
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Company has not generated any product sales and has accumulated deficit of $221.5 million as of March 31, 2026, requiring significant additional capital raises to fund development","EQ504 Phase 1 proof-of-mechanism study planned to commence mid-2026 with no assurance of favorable data or timely completion","Intensive competition and rapidly changing environment in autoimmune and inflammatory disorder therapeutics with uncertain market acceptance and regulatory approval pathways"]
What changed in the latest 10-Q
AI-assisted comparison of EQ's 10-Q filed 2026-05-13 against the prior one filed 2025-11-13.
Management's Discussion & Analysis (MD&A)
- Added:
- Reference to Form 10-K filed March 25, 2026 (newer filing) vs. March 27, 2025 (older filing)
- Cash and cash equivalents of $61.3 million as of March 31, 2026 (newer)
- Accumulated deficit of $221.5 million as of March 31, 2026 (newer)
- March 2026 Private Placement details: Securities Purchase Agreement dated March 11, 2026, closing March 13, 2026, issuing 1,179,508 shares at $1.854 per share and 17,698,593 pre-funded warrant shares at $1.8539 per share for $35.0 million gross proceeds
- Reference to Note 5 for private placement details (newer)
- Description of EQ504 Phase 1 study timing as 'mid-2026' with data 'approximately six months thereafter' (newer specifies preclinical stage)
- Updated AhR modulation description: 'inducing anti-inflammatory cells and cytokines while reducing proinflammatory cells and cytokines and improving intestinal barrier function and repair' (newer)
- Potential expansion to 'inflammatory lung diseases' for EQ504 (newer)
- Removed:
- Cash and cash equivalents of $33.1 million as of September 30, 2025 (older)
- Accumulated deficit of $212.4 million as of September 30, 2025 (older)
- Reference to 'par value $0.0001 per share' in securities description (older)
- Statement about intended use of net proceeds from Private Placement for development of EQ504, working capital and general corporate purposes (older)
- AhR modulation description: 'has been shown to have a beneficial impact on tissue barrier function, inflammation, cell development and tumor suppression' (older)
- Indication expansion opportunities in 'pouchitis and in lung diseases' (older mentioned pouchitis specifically)
- Clarification that 'Ariagen was majority owned by Decheng Capital, a stockholder of Equillium' (older)
- Entire section describing Biocon termination agreement dated September 30, 2025, including details of collaboration and license termination and technical service fee arrangement (older)
- Reworded:
- EQ504 description changed from 'novel aryl hydrocarbon receptor modulator' to 'novel aryl hydrocarbon receptor, or AhR, modulator' (added acronym expansion in newer)
- Product candidate references changed from 'pre-clinical' to 'preclinical' (style change)
- August 2025 Private Placement renamed from 'the Private Placement' to 'the August 2025 Private Placement' and references to 'the Purchase Agreement' changed to 'the August 2025 Purchase Agreement' for clarity (newer)
- Note reference changed from 'Note 8' (older) to 'Note 5' (newer) for private placement details
- Notes:
- Older filing is truncated at end of MD&A section, limiting full comparison
- Date references reflect different fiscal periods: September 30, 2025 (older) vs. March 31, 2026 (newer)
- The Biocon termination section in older filing may continue beyond visible text
Risk Factors
- Added:
- Reference to Annual Report on Form 10-K for year ended December 31, 2025 (newer filing, filed 2026-05-13)
- Financial data: net losses of $5.3 million and $8.7 million for three months ended March 31, 2026 and 2025 (newer filing)
- Accumulated deficit of $221.5 million as of March 31, 2026 (newer filing)
- Removed:
- Language 'reduce or eliminate' changed to just 'eliminate' in second bullet point (older filing had 'delay, reduce or eliminate')
- Reference to Annual Report on Form 10-K for year ended December 31, 2024 (older filing, filed 2025-11-13)
- Financial data: net losses of $18.6 million and $8.1 million for nine months ended September 30, 2025 and year ended December 31, 2024 (older filing)
- Accumulated deficit of $212.4 million as of September 30, 2025 (older filing)
- Expansion of 'CMC' to 'chemistry, manufacturing and controls, or CMC' (older filing spelled it out, newer filing uses acronym only)
- Reworded:
- Second bullet point: 'delay, reduce or eliminate' changed to 'delay or eliminate' (removed 'reduce' option)
- Fifth bullet point: 'Any delays in the commencement and completion' changed to 'Any delays in the commencement or completion'
- Seventh bullet point: 'if and when approved' changed to 'if approved'
- Tenth bullet point: 'or identical to our product candidates' changed to 'or identical to ours'
- CMC reference: 'conducting chemistry, manufacturing and controls, or CMC, and formulation development activities' changed to 'conducting CMC and formulation development activities'
- CROs description: 'non-clinical studies' changed to 'nonclinical studies'
- Notes:
- The newer filing text is truncated at the end of the financial losses paragraph, so full comparison of detailed risk factor content is not possible
- Comparison is limited to the Risk Factors Summary section and opening paragraphs of the full Risk Factors section due to truncation
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 3 open-market sales by insiders in the last 90 days.
- Last 90 days0 buys · 3 sells ($766567) — 2 selling insiders
- Last 180 days0 buys · 10 sells ($2M) — 3 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-06-05. As of 2026-08-27.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about EQ's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding EQ as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 1,149,169
- Reported value $2,298,338
reported quarterly holdings change (2025-12-31 → 2026-03-31): 1 new, 3 increased, 1 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
EQ had 5,416,814 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
EQ had 8.54% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 11.84 days to cover at the same settlement.
- Reported short interest (shares) 5,416,814
- Short interest (% of shares outstanding) 8.54%
- Prior settlement (shares) 5,569,502
- Reported change -2.74%
- Days to cover (reported) 11.84
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Frequently asked questions
What does Equillium, Inc. (EQ) do?
Equillium is a clinical-stage biotechnology company developing novel therapeutics to treat severe autoimmune and inflammatory disorders. The company's primary focus is advancing EQ504, a novel aryl hydrocarbon receptor (AhR) modulator, through clinical development. To date, Equillium has generated no product sales and has incurred significant operating losses as it invests substantially all efforts in research and development of its product candidates.
What sector is Equillium, Inc. (EQ) in?
Equillium, Inc. (EQ) is classified in the Health Care sector. Its industry is clinical-stage autoimmune and inflammatory disease therapeutics. It trades on NASDAQ.
Is Equillium, Inc. (EQ) overbought or oversold right now?
Equillium, Inc. (EQ) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 51, in the neutral middle (as of 2026-08-26). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on EQ come from?
Fundamentals and prices come from market data, as of 2026-08-27; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-27. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-26.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.