What is the 13F Pro Quality Score for EQ?

13F Pro ranks Equillium, Inc. (EQ) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View EQ's current score at https://13fpro.ai/research/EQ (free sign-up required for the full ranking).

Where does 13F Pro source EQ data?

All Equillium, Inc. fundamentals and ownership data come directly from SEC EDGAR. Equillium, Inc. files with the SEC under CIK 1746466. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is EQ in?

Equillium, Inc. (EQ) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is EQ research updated on 13F Pro?

EQ's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Equillium, Inc.(EQ)Stock Analysis

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13F Pro Quality Score

27.2/100

Rank #2,473 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

90.0/100

Profitability

10.5/100

Balance Sheet

1.5/100

Earnings Quality

30.0/100

Free Cash Flow

9.6/100

Institutional Flow

18.8/100

Revenue Scale

11.6/100

Dilution Risk

24.1/100

EQ Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Equillium, Inc. (EQ), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores EQ at 27.2/100 on a 32-signal composite quality model, placing it at rank #2,473 of 2,879 stocks — the bottom half of the AI-ranked universe. EQ scores in the top quartile across revenue growth (90.0). Areas of concern include balance sheet strength (1.5) and free cash flow (9.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 24.1/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Equillium, Inc. reports net income of $-5.3M, free cash flow of $-4.3M. Top institutional holders of EQ by reported 13-F value include JANUS HENDERSON GROUP PLC, ADAGE CAPITAL PARTNERS GP, L.L.C., Decheng Capital, based on the most recent SEC filings. EQ trades on the Nasdaq exchange and files with the SEC under CIK 1746466. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate EQ daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Equillium, Inc. directly from SEC EDGAR. Equillium, Inc.'s 13F Pro composite quality score has ranged between 22 and 32 since 2024, currently 27.2 — an improving long-term trajectory across 16 quarterly and live scoring snapshots.

Net Income

Q1 2026

$-5.3M

Free Cash Flow

Q1 2026

$-4.3M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

—FY 2025

FY21 —FY23 $36.1MFY24 $41.1MFY25 —

Net Income

-177.6% YoY

$-22.4MFY 2025

FY21 $-39.1MFY23 $-13.3MFY24 $-8.1MFY25 $-22.4M

Operating Income

-185.8% YoY

$-23.6MFY 2025

FY21 $-37.8MFY23 $-14.5MFY24 $-8.3MFY25 $-23.6M

EPS (Diluted)

-69.6% YoY

$-0.39FY 2025

FY21 $-1.36FY23 $-0.38FY24 $-0.23FY25 $-0.39

Total Assets

+24.5% YoY

$31.9MFY 2025

FY21 $85.4MFY23 $50.5MFY24 $25.6MFY25 $31.9M

Total Debt

—FY 2025

FY21 $11.6MFY23 —FY24 —FY25 —

Op. Cash Flow

-19.6% YoY

$-22.7MFY 2025

FY21 $-32.1MFY23 $-21.8MFY24 $-19.0MFY25 $-22.7M

Metric	FY 2025	FY 2024	FY 2023	FY 2021	FY 2020	FY 2019
Revenue	—	$41.1M +13.9%	$36.1M	—	—	—
Net Income	$-22.4M -177.6%	$-8.1M +39.5%	$-13.3M +65.9%	$-39.1M -31.0%	$-29.8M -16.5%	$-25.6M
Operating Income	$-23.6M -185.8%	$-8.3M +43.1%	$-14.5M +61.6%	$-37.8M -27.9%	$-29.5M -10.6%	$-26.7M
EPS (Diluted)	$-0.39 -69.6%	$-0.23 +39.5%	$-0.38 +72.1%	$-1.36	—	—
Total Assets	$31.9M +24.5%	$25.6M -49.3%	$50.5M -40.8%	$85.4M -0.0%	$85.4M +53.8%	$55.5M
Total Debt	—	—	—	$11.6M -0.0%	$11.6M +19.9%	$9.7M
Operating Cash Flow	$-22.7M -19.6%	$-19.0M +12.7%	$-21.8M +32.1%	$-32.1M -30.3%	$-24.6M -7.3%	$-22.9M

AI Insight: EQ Financial Trends

Equillium faces persistent operating losses and volatile equity despite recent capital raise; revenue remains stalled at low single-digit millions.

• Operating losses consistent across all periods; Q1 2026 operating loss of $6M continues pattern established since Q3 2024.

• Operating cash flow volatile but improved in Q2 2025 ($-3M) and Q4 2025 ($-3M) versus earlier quarters ($-8M).

• Equity surged to $59M in Q1 2026 from $29M in Q4 2025, likely reflecting equity financing.

⚠ Revenue remains depressed: $4M in Q4 2025 and no update for Q1 2026; no clear growth trajectory visible.

⚠ Net losses ranged $4M–$9M per quarter; profitability inflection point not yet evident despite capital infusion.

AI Insight: EQ Ratio Trends

Equillium remains deeply unprofitable with negative ROE/ROA/ROIC, though operating and net margins show modest sequential improvement in recent quarters.

• Operating margin improved from -90.2% in Q4 2025 to stabilizing around -37.6% in Q3 2025, suggesting operational efficiency gains.

• Net profit margin deteriorated sharply in Q4 2024 (-131.9%) but has recovered to -34.8% by Q3 2025, indicating partial margin stabilization.

• ROE collapsed to -121.6% in Q4 2024 and remains deeply negative at -35.7% in Q1 2026, destroying shareholder value.

⚠ Q4 2025 showed abrupt margin deterioration (OpMargin -90.2%, NPM -86.0%), reversing Q3 progress—investigate one-time charges or operational issues.

⚠ ROIC remains negative across all periods; TTM ROIC at -34.2% indicates company destroys capital at scale.

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Available Research

13F Pro tracks comprehensive data for Equillium, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of EQ

JANUS HENDERSON GROUP PLC
$13.0M6,494,571 sh
ADAGE CAPITAL PARTNERS GP, L.L.C.
$10.7M5,329,416 sh
Decheng Capital LLC
$8.9M4,447,308 sh
ADAR1 Capital Management, LLC
$7.5M3,726,659 sh
Woodline Partners LP
$7.0M3,500,901 sh
abrdn plc
$6.7M3,352,837 sh
RA CAPITAL MANAGEMENT, L.P.
$6.2M3,096,336 sh
VANGUARD CAPITAL MANAGEMENT LLC
$3.6M1,784,472 sh
BALYASNY ASSET MANAGEMENT L.P.
$3.3M1,638,770 sh
Eversept Partners, LP
$3.0M1,498,993 sh

Fund	Value	Shares
JANUS HENDERSON GROUP PLC	$13.0M	6,494,571
ADAGE CAPITAL PARTNERS GP, L.L.C.	$10.7M	5,329,416
Decheng Capital LLC	$8.9M	4,447,308
ADAR1 Capital Management, LLC	$7.5M	3,726,659
Woodline Partners LP	$7.0M	3,500,901
abrdn plc	$6.7M	3,352,837
RA CAPITAL MANAGEMENT, L.P.	$6.2M	3,096,336
VANGUARD CAPITAL MANAGEMENT LLC	$3.6M	1,784,472
BALYASNY ASSET MANAGEMENT L.P.	$3.3M	1,638,770
Eversept Partners, LP	$3.0M	1,498,993

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Is EQ a good stock to buy?

13F Pro's AI-powered analysis of Equillium, Inc. (EQ) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for EQ are available on the EQ stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own EQ?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling EQ. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Equillium, Inc.'s investment landscape.